Massachusetts Wealth Management Purchases 100 Shares of The Procter & Gamble Company (NYSE:PG)

Massachusetts Wealth Management boosted its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,991 shares of the company’s stock after buying an additional 100 shares during the quarter. Massachusetts Wealth Management’s holdings in Procter & Gamble were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Wellington Management Group LLP raised its holdings in Procter & Gamble by 9.4% in the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares in the last quarter. Norges Bank bought a new position in Procter & Gamble in the 4th quarter worth $3,956,117,000. Charles Schwab Investment Management Inc. raised its holdings in Procter & Gamble by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock worth $2,336,552,000 after purchasing an additional 206,165 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Procter & Gamble by 5.6% in the 4th quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock worth $1,547,021,000 after purchasing an additional 559,358 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Procter & Gamble by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock worth $1,402,636,000 after purchasing an additional 246,323 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Argus upped their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group increased their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. BNP Paribas began coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.72.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $163.83 on Friday. The firm’s 50-day moving average price is $165.72 and its 200-day moving average price is $159.19. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $169.41. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The company has a market cap of $386.66 billion, a PE ratio of 26.77, a PEG ratio of 3.13 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, April 18th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is 65.85%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 9,149 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the sale, the insider now owns 12,929 shares in the company, valued at approximately $2,168,451.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The disclosure for this sale can be found here. Insiders have sold 154,544 shares of company stock worth $25,413,051 in the last quarter. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.