Jessup Wealth Management Inc Acquires 28,840 Shares of The Procter & Gamble Company (NYSE:PG)

Jessup Wealth Management Inc increased its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,285 shares of the company’s stock after buying an additional 28,840 shares during the quarter. Procter & Gamble accounts for about 4.6% of Jessup Wealth Management Inc’s holdings, making the stock its 7th biggest holding. Jessup Wealth Management Inc’s holdings in Procter & Gamble were worth $10,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PG. Virginia Wealth Management Group Inc. boosted its holdings in shares of Procter & Gamble by 26.7% during the 3rd quarter. Virginia Wealth Management Group Inc. now owns 24,198 shares of the company’s stock valued at $4,191,000 after acquiring an additional 5,101 shares in the last quarter. Independence Bank of Kentucky raised its position in Procter & Gamble by 14.5% in the third quarter. Independence Bank of Kentucky now owns 45,389 shares of the company’s stock valued at $7,861,000 after purchasing an additional 5,759 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of Procter & Gamble during the third quarter worth about $207,000. Rappaport Reiches Capital Management LLC acquired a new position in shares of Procter & Gamble in the third quarter valued at approximately $201,000. Finally, Hudson Capital Management LLC raised its holdings in Procter & Gamble by 1.3% in the 3rd quarter. Hudson Capital Management LLC now owns 26,741 shares of the company’s stock valued at $4,631,000 after buying an additional 336 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PG. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price target for the company from $182.00 to $175.00 in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.05.

Insider Activity

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock valued at $65,140,718 in the last three months. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.7 %

Procter & Gamble stock traded up $1.24 during midday trading on Friday, hitting $170.19. 923,176 shares of the stock were exchanged, compared to its average volume of 6,655,963. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $401.67 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a 52-week low of $141.66 and a 52-week high of $177.94. The business’s 50-day moving average price is $171.45 and its 200-day moving average price is $166.66.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same period last year, the business posted $1.37 earnings per share. Procter & Gamble’s revenue was down .1% on a year-over-year basis. On average, research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s payout ratio is 66.94%.

Procter & Gamble Company Profile

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.