CCM Investment Advisers LLC Purchases 9,194 Shares of The Procter & Gamble Company (NYSE:PG)

CCM Investment Advisers LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,995 shares of the company’s stock after purchasing an additional 9,194 shares during the quarter. Procter & Gamble makes up 1.7% of CCM Investment Advisers LLC’s holdings, making the stock its 27th biggest holding. CCM Investment Advisers LLC’s holdings in Procter & Gamble were worth $13,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Financial Group LLC grew its holdings in Procter & Gamble by 2.8% during the 1st quarter. Marshall Financial Group LLC now owns 20,507 shares of the company’s stock worth $3,495,000 after acquiring an additional 550 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Procter & Gamble by 6.6% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 2,246 shares of the company’s stock worth $378,000 after purchasing an additional 139 shares during the period. Smithbridge Asset Management Inc. DE bought a new stake in shares of Procter & Gamble in the first quarter worth $5,197,000. Quintet Private Bank Europe S.A. increased its holdings in Procter & Gamble by 2.8% in the first quarter. Quintet Private Bank Europe S.A. now owns 449,668 shares of the company’s stock valued at $76,632,000 after purchasing an additional 12,296 shares during the period. Finally, RMR Wealth Builders lifted its holdings in Procter & Gamble by 10.3% during the 1st quarter. RMR Wealth Builders now owns 14,430 shares of the company’s stock worth $2,459,000 after buying an additional 1,346 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PG has been the topic of a number of recent analyst reports. Citigroup cut their price objective on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Raymond James reduced their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Piper Sandler lifted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Bank of America cut their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Redburn Atlantic lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective for the company. in a research report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Procter & Gamble Stock Up 0.6%

PG opened at $163.10 on Friday. The firm has a market capitalization of $382.39 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company has a fifty day moving average price of $163.70 and a 200-day moving average price of $166.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same period in the previous year, the business posted $1.52 earnings per share. Procter & Gamble’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a $1.0568 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.59%. Procter & Gamble’s payout ratio is presently 66.98%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.