Massachusetts Wealth Management Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 16th, 2023

Massachusetts Wealth Management decreased its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,999 shares of the company’s stock after selling 300 shares during the period. Procter & Gamble accounts for approximately 1.7% of Massachusetts Wealth Management’s investment portfolio, making the stock its 21st largest position. Massachusetts Wealth Management’s holdings in Procter & Gamble were worth $1,635,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PG. Axiom Financial Strategies LLC boosted its position in shares of Procter & Gamble by 7.0% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock worth $276,000 after purchasing an additional 113 shares during the period. AMI Investment Management Inc. lifted its holdings in Procter & Gamble by 7.2% during the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock worth $529,000 after buying an additional 233 shares in the last quarter. LSV Asset Management lifted its holdings in Procter & Gamble by 5.7% during the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock worth $2,842,000 after buying an additional 1,000 shares in the last quarter. Ergoteles LLC acquired a new stake in Procter & Gamble during the 1st quarter worth approximately $3,073,000. Finally, Wsfs Capital Management LLC lifted its holdings in Procter & Gamble by 12.0% during the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock worth $650,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 25,244 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 27,118 shares in the company, valued at $4,210,611.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total transaction of $754,340.44. Following the transaction, the insider now directly owns 7,977 shares in the company, valued at $1,240,184.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre Schulten sold 25,244 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,210,611.86. The disclosure for this sale can be found here. Insiders have sold a total of 95,093 shares of company stock worth $14,821,930 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PG shares. UBS Group increased their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Royal Bank of Canada raised their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 24th. StockNews.com began coverage on shares of Procter & Gamble in a report on Thursday, May 18th. They issued a “buy” rating on the stock. 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 report on Monday, April 24th. Finally, Barclays raised their price objective on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.

Procter & Gamble Trading Up 0.7 %

Shares of Procter & Gamble stock opened at $150.05 on Friday. The Procter & Gamble Company has a 52-week low of $122.18 and a 52-week high of $158.11. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51. The company’s 50-day simple moving average is $149.25 and its 200-day simple moving average is $147.25. The firm has a market cap of $353.66 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.83 and a beta of 0.42.

Procter & Gamble (NYSE:PG – Get Free Report) last issued 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. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The business had revenue of $20.07 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.9407 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.51%. Procter & Gamble’s dividend payout ratio (DPR) is 65.51%.

Procter & Gamble 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.