Prosperity Wealth Management Inc. Purchases New Holdings in The Procter & Gamble Company (NYSE:PG)

Prosperity Wealth Management Inc. acquired a new position in shares of The Procter & Gamble Company (NYSE:PG) during the fourth quarter, HoldingsChannel reports. The firm acquired 14,796 shares of the company’s stock, valued at approximately $2,168,000. Procter & Gamble accounts for approximately 1.4% of Prosperity Wealth Management Inc.’s portfolio, making the stock its 13th biggest position.

Several other large investors also recently made changes to their positions in PG. Geode Capital Management LLC lifted its stake in Procter & Gamble by 1.1% in the first quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock valued at $6,936,343,000 after acquiring an additional 510,559 shares during the last quarter. Morgan Stanley increased its stake in shares of Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after purchasing an additional 4,959,527 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Procter & Gamble by 96,526.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after purchasing an additional 38,495,676 shares during the period. Wellington Management Group LLP lifted its stake in Procter & Gamble by 9.4% in the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after purchasing an additional 3,047,557 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Procter & Gamble by 2.3% during the third quarter. Northern Trust Corp now owns 29,313,150 shares of the company’s stock worth $4,275,616,000 after purchasing an additional 670,862 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PG shares. Deutsche Bank Aktiengesellschaft upped their price objective on Procter & Gamble from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on Procter & Gamble in a research report on Friday, March 1st. They issued a “neutral” rating and a $168.00 target price on the stock. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price target for the company from $160.00 to $175.00 in a research note on Monday, March 11th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Raymond James lifted their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $168.53.

Procter & Gamble Price Performance

NYSE:PG traded up $0.50 on Wednesday, hitting $155.95. The company had a trading volume of 6,103,296 shares, compared to its average volume of 6,114,070. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $163.14. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $366.95 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.18 and a beta of 0.44. The firm has a 50 day moving average of $159.20 and a two-hundred day moving average of $152.77.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.14. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.48 billion. During the same period in the prior year, the business posted $1.59 earnings per share. Procter & Gamble’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts anticipate that The Procter & Gamble Company will post 6.45 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $1.0065 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 62.98%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 3,865 shares of Procter & Gamble stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the transaction, the insider now directly owns 11,886 shares of the company’s stock, valued at approximately $1,908,891.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Susan Street Whaley sold 3,865 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the sale, the insider now owns 11,886 shares in the company, valued at $1,908,891.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Pritchard sold 101,704 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the completion of the transaction, the insider now owns 163,428 shares in the company, valued at approximately $25,097,637.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is owned by company insiders.

Procter & Gamble Profile

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.