Jessup Wealth Management Inc Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Jessup Wealth Management Inc lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 97.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,285 shares of the company’s stock after purchasing an additional 28,840 shares during the quarter. Procter & Gamble accounts for approximately 4.6% of Jessup Wealth Management Inc’s portfolio, making the stock its 7th largest position. Jessup Wealth Management Inc’s holdings in Procter & Gamble were worth $10,095,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HighPoint Advisor Group LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $17,696,000. Bayesian Capital Management LP increased its holdings in shares of Procter & Gamble by 43.0% in the fourth quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock worth $7,743,000 after buying an additional 15,900 shares during the period. Steele Capital Management Inc. bought a new stake in shares of Procter & Gamble in the 1st quarter valued at about $204,000. United Advisor Group LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at about $3,463,000. Finally, GAMMA Investing LLC grew its position in Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after acquiring an additional 10,777 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their price objective on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $175.05.

Insider Activity

In other news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. This trade represents a 0.00 % decrease in their position. 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 quarter. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Performance

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

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

Procter & Gamble Announces Dividend

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