Mystic Asset Management Inc. Purchases 8,708 Shares of The Procter & Gamble Company (NYSE:PG)

Mystic Asset Management Inc. raised its position in shares of The Procter & Gamble Company (NYSE:PG) by 83.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,108 shares of the company’s stock after purchasing an additional 8,708 shares during the quarter. Mystic Asset Management Inc.’s holdings in Procter & Gamble were worth $3,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. NewSquare Capital LLC lifted its position in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble in the third quarter worth about $33,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Procter & Gamble during the 4th quarter valued at about $34,000. Noble Wealth Management PBC bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $39,000. Finally, Bay Harbor Wealth Management LLC boosted its position in shares of Procter & Gamble by 972.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $169.70 on Tuesday. The firm has a market capitalization of $397.92 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43. The firm has a 50-day moving average price of $167.45 and a 200-day moving average price of $169.81. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the previous year, the business earned $1.84 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. Procter & Gamble’s payout ratio is 64.01%.

Wall Street Analyst Weigh In

PG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. DA Davidson reiterated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Barclays raised their price objective on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Finally, Piper Sandler cut their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.47.

Insider Transactions at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Company Profile

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.