CCM Investment Advisers LLC Increases Position in The Procter & Gamble Company (NYSE:PG)

CCM Investment Advisers LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 12.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,995 shares of the company's stock after buying an additional 9,194 shares during the quarter. Procter & Gamble comprises approximately 1.7% of CCM Investment Advisers LLC's investment portfolio, making the stock its 27th biggest position. CCM Investment Advisers LLC's holdings in Procter & Gamble were worth $13,974,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Procter & Gamble by 51.5% in the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after buying an additional 13,617 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Procter & Gamble in the fourth quarter worth approximately $50,049,000. MontVue Capital Management Inc. bought a new stake in Procter & Gamble in the fourth quarter valued at approximately $228,000. Van ECK Associates Corp increased its position in Procter & Gamble by 10.5% during the 4th quarter. Van ECK Associates Corp now owns 466,497 shares of the company's stock valued at $78,208,000 after purchasing an additional 44,163 shares during the period. Finally, Three Bridge Wealth Advisors LLC raised its holdings in Procter & Gamble by 18.7% during the 4th quarter. Three Bridge Wealth Advisors LLC now owns 2,624 shares of the company's stock worth $440,000 after purchasing an additional 413 shares during the last quarter. Institutional investors own 65.77% of the company's stock.

Wall Street Analyst Weigh In

PG has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Piper Sandler upped their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Raymond James dropped their price objective on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an "overweight" rating in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and an average target price of $178.86.

Insiders Place Their Bets

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares of the company's stock, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value 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 approximately $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Procter & Gamble Trading Down 1.9%

PG stock traded down $3.12 on Friday, reaching $160.06. The company's stock had a trading volume of 7,093,816 shares, compared to its average volume of 7,367,226. The Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The business has a fifty day simple moving average of $163.75 and a two-hundred day simple moving average of $166.82. The firm has a market cap of $375.27 billion, a PE ratio of 25.49, a PEG ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company's revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.52 earnings per share. As a group, research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, April 21st. Procter & Gamble's payout ratio is currently 66.98%.

Procter & Gamble 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.