The Procter & Gamble Company (NYSE:PG) Shares Sold by Congress Asset Management Co. MA

Posted by Defense World Staff on Jul 9th, 2023

Congress Asset Management Co. MA lessened its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 618,678 shares of the company’s stock after selling 9,468 shares during the period. Congress Asset Management Co. MA’s holdings in Procter & Gamble were worth $91,991,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in Procter & Gamble by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock valued at $6,997,559,000 after buying an additional 323,292 shares during the period. Morgan Stanley increased its stake in Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after buying an additional 4,959,527 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after buying an additional 38,495,676 shares during the period. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter valued at about $3,752,321,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Procter & Gamble by 11.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,150,848 shares of the company’s stock valued at $2,599,383,000 after buying an additional 1,722,462 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, CAO Matthew W. Janzaruk sold 13,697 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the transaction, the chief accounting officer now owns 883 shares of the company’s stock, valued at $137,536.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Matthew W. Janzaruk sold 13,697 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the transaction, the chief accounting officer now owns 883 shares of the company’s stock, valued at $137,536.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ma. Fatima Francisco sold 8,000 shares of Procter & Gamble stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the completion of the transaction, the chief executive officer now directly owns 9,343 shares in the company, valued at approximately $1,465,356.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PG has been the topic of several research analyst reports. Barclays raised their target price on shares of Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Evercore ISI raised their price objective on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, April 24th. Morgan Stanley raised their price objective on shares of Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, April 24th. Finally, Truist Financial lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $155.00 in a research report on Thursday, May 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $161.50.

Procter & Gamble Price Performance

NYSE PG opened at $148.80 on Friday. The company has a 50 day simple moving average of $149.97 and a 200-day simple moving average of $147.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39. 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 Procter & Gamble Company has a 52-week low of $122.18 and a 52-week high of $158.11.

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

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were given a dividend of $0.9407 per share. This represents a $3.76 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, April 20th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio (DPR) is presently 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.