The Procter & Gamble Company (NYSE:PG) Shares Sold by Mystic Asset Management Inc.

Posted by on Jul 9th, 2023

Mystic Asset Management Inc. cut its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,805 shares of the company’s stock after selling 132 shares during the period. Mystic Asset Management Inc.’s holdings in Procter & Gamble were worth $1,458,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PG. Moneta Group Investment Advisors LLC increased its position in Procter & Gamble by 96,526.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after purchasing an additional 38,495,676 shares during the last quarter. Norges Bank purchased a new position in shares of Procter & Gamble in the 4th quarter worth $3,752,321,000. Morgan Stanley boosted its holdings in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares during the last quarter. Alliancebernstein L.P. grew its position in Procter & Gamble by 43.9% during the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock valued at $1,434,138,000 after acquiring an additional 2,888,007 shares during the period. Finally, CI Private Wealth LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth about $292,647,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several research reports. UBS Group raised their price target on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a report on Monday, April 24th. Evercore ISI upped their price target on shares of Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. Barclays raised their price objective on Procter & Gamble from $160.00 to $167.00 in a research report on Wednesday, April 26th. Morgan Stanley upped their price target on Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, April 24th. Finally, Royal Bank of Canada upped their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.50.

Insider Buying and Selling at Procter & Gamble

In related news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the sale, the chief financial officer now directly owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Andre Schulten sold 25,244 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the sale, the chief financial officer now directly owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,300 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $156.33, for a total value of $1,922,859.00. Following the completion of the transaction, the insider now owns 13,001 shares of the company’s stock, valued at approximately $2,032,446.33. The disclosure for this sale can be found here. In the last three months, insiders sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is owned by insiders.

Procter & Gamble Price Performance

Shares of PG opened at $148.80 on Friday. The firm has a market capitalization of $350.72 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.83 and a beta of 0.42. The stock’s fifty day moving average is $149.97 and its 200-day moving average is $147.38. The Procter & Gamble Company has a one year low of $122.18 and a one year high of $158.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.39 and a current ratio of 0.59.

Procter & Gamble (NYSE:PG – Free Report) last issued its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The company had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same period in the prior year, the business posted $1.33 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were given a $0.9407 dividend. The ex-dividend date was Thursday, April 20th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.53%. Procter & Gamble’s payout ratio is 65.51%.

Procter & Gamble Company Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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