Thrive Wealth Management LLC Has $1.56 Million Position in The Procter & Gamble Company (NYSE:PG)

Thrive Wealth Management LLC boosted its holdings in The Procter & Gamble Company (NYSE:PGGet Rating) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,861 shares of the company’s stock after purchasing an additional 786 shares during the quarter. Procter & Gamble comprises approximately 0.5% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Thrive Wealth Management LLC’s holdings in Procter & Gamble were worth $1,562,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Procter & Gamble during the 4th quarter worth $3,726,603,000. GQG Partners LLC purchased a new position in Procter & Gamble during the 4th quarter worth $1,231,791,000. CFS Investment Advisory Services LLC boosted its holdings in Procter & Gamble by 15,150.1% during the 1st quarter. CFS Investment Advisory Services LLC now owns 4,075,289 shares of the company’s stock worth $642,000 after acquiring an additional 4,048,566 shares during the last quarter. Boston Partners boosted its holdings in Procter & Gamble by 14,217.6% during the 1st quarter. Boston Partners now owns 3,415,888 shares of the company’s stock worth $522,695,000 after acquiring an additional 3,392,030 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Procter & Gamble by 330.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,372,002 shares of the company’s stock worth $515,242,000 after purchasing an additional 2,588,640 shares during the period. Institutional investors and hedge funds own 63.45% of the company’s stock.

Procter & Gamble Trading Up 0.6 %

NYSE PG opened at $138.28 on Monday. The stock’s 50-day simple moving average is $143.26 and its two-hundred day simple moving average is $147.63. The Procter & Gamble Company has a twelve month low of $129.50 and a twelve month high of $165.35. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $329.87 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.55 and a beta of 0.35.

Procter & Gamble (NYSE:PGGet Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 EPS. Research analysts forecast that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were issued a $0.913 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.64%. Procter & Gamble’s dividend payout ratio is currently 62.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PG shares. JPMorgan Chase & Co. lowered their target price on Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Evercore ISI set a $170.00 target price on Procter & Gamble in a research note on Monday, June 20th. Wells Fargo & Company lowered their target price on Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. Truist Financial lowered their target price on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Finally, Barclays lowered their price objective on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.93.

Insider Transactions at Procter & Gamble

In other news, insider Mary Theresa Grabowski sold 16,000 shares of Procter & Gamble stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $147.00, for a total value of $2,352,000.00. Following the transaction, the insider now owns 4,326 shares in the company, valued at $635,922. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Sundar G. Raman sold 1,599 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $145.12, for a total value of $232,046.88. Following the sale, the chief executive officer now directly owns 4,002 shares of the company’s stock, valued at $580,770.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Theresa Grabowski sold 16,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $147.00, for a total value of $2,352,000.00. Following the completion of the sale, the insider now directly owns 4,326 shares in the company, valued at $635,922. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,321 shares of company stock worth $42,559,426. Company insiders own 0.26% of the company’s stock.

About Procter & Gamble

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The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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