Massachusetts Financial Services Co. MA boosted its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 253.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,098,946 shares of the company's stock after purchasing an additional 787,926 shares during the period. Massachusetts Financial Services Co. MA's holdings in Procter & Gamble were worth $190,337,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its stake in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company's stock worth $16,300,000 after purchasing an additional 4,035 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in Procter & Gamble in the 3rd quarter valued at about $5,705,000. Welch Group LLC increased its stake in shares of Procter & Gamble by 0.9% during the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company's stock worth $56,094,000 after purchasing an additional 2,990 shares during the last quarter. Swiss National Bank raised its position in shares of Procter & Gamble by 0.6% in the third quarter. Swiss National Bank now owns 7,005,790 shares of the company's stock valued at $1,213,403,000 after purchasing an additional 39,000 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Procter & Gamble by 67.2% in the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company's stock worth $4,420,000 after purchasing an additional 10,777 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.
Insider Activity at Procter & Gamble
In other news, CEO Jon R. Moeller sold 87,979 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.40, for a total value of $14,991,621.60. Following the completion of the sale, the chief executive officer now directly owns 300,777 shares in the company, valued at $51,252,400.80. This represents a 22.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company's stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,693 shares of company stock valued at $27,311,345 over the last three months. 0.18% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have commented on PG shares. DZ Bank upgraded shares of Procter & Gamble from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an "overweight" rating in a research report on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a "strong-buy" rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price target on Procter & Gamble from $188.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and an average price target of $178.00.
Check Out Our Latest Stock Analysis on PG
Procter & Gamble Stock Up 2.0 %
Shares of NYSE PG traded up $3.53 during mid-day trading on Friday, hitting $176.28. The company had a trading volume of 10,609,785 shares, compared to its average volume of 6,613,133. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $170.04 and a two-hundred day simple moving average of $168.62. The company has a market capitalization of $415.15 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 3.74 and a beta of 0.42. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. On average, equities analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.
Procter & Gamble Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.28%. Procter & Gamble's payout ratio is 69.48%.
About Procter & Gamble
(
Free Report)
The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.
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