Prosperity Wealth Management Inc. Invests $2.17 Million in The Procter & Gamble Company (NYSE:PG)

Prosperity Wealth Management Inc. bought a new stake in The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,796 shares of the company’s stock, valued at approximately $2,168,000. Procter & Gamble makes up 1.4% of Prosperity Wealth Management Inc.’s holdings, making the stock its 13th biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Procter & Gamble by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock worth $6,936,343,000 after purchasing an additional 510,559 shares during the period. Morgan Stanley grew its holdings 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 period. Moneta Group Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after purchasing an additional 38,495,676 shares during the period. Wellington Management Group LLP boosted its holdings in Procter & Gamble by 9.4% during 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 acquiring an additional 3,047,557 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Procter & Gamble by 2.3% in the 3rd quarter. Northern Trust Corp now owns 29,313,150 shares of the company’s stock valued at $4,275,616,000 after buying an additional 670,862 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the transaction, the insider now owns 163,428 shares of the company’s stock, valued at approximately $25,097,637.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Gary A. Coombe sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total value of $3,549,040.00. Following the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marc S. Pritchard sold 101,704 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total value of $15,618,683.28. Following the transaction, the insider now owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,063 shares of company stock valued at $43,187,745. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Royal Bank of Canada lifted their price target on Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 24th. Wells Fargo & Company lifted their price target on Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price target for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Finally, Raymond James boosted their target price on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $168.53.

Procter & Gamble Stock Up 0.3 %

Shares of 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 12-month low of $141.45 and a 12-month high of $163.14. The business has a 50 day moving average of $159.20 and a two-hundred day moving average of $152.77. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $366.95 billion, a P/E ratio of 26.12, a PEG ratio of 3.18 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.14. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.48 billion. During the same quarter in the prior year, the business earned $1.59 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.45 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.58%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is currently 62.98%.

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.