Thrive Wealth Management LLC Raises Stake in The Procter & Gamble Company (NYSE:PG)

Thrive Wealth Management LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,000 shares of the company’s stock after buying an additional 1,929 shares during the period. Procter & Gamble comprises about 0.5% of Thrive Wealth Management LLC’s holdings, making the stock its 26th biggest position. Thrive Wealth Management LLC’s holdings in Procter & Gamble were worth $2,850,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PG. Diversify Wealth Management LLC grew its holdings in Procter & Gamble by 48.7% during the fourth quarter. Diversify Wealth Management LLC now owns 21,509 shares of the company’s stock valued at $3,411,000 after purchasing an additional 7,045 shares during the period. Smart Money Group LLC grew its stake in shares of Procter & Gamble by 7.5% during the 4th quarter. Smart Money Group LLC now owns 5,288 shares of the company’s stock worth $886,000 after acquiring an additional 370 shares during the period. Annex Advisory Services LLC increased its holdings in Procter & Gamble by 5.3% in the 4th quarter. Annex Advisory Services LLC now owns 34,215 shares of the company’s stock worth $5,736,000 after acquiring an additional 1,712 shares during the last quarter. Cascade Investment Group Inc. raised its stake in Procter & Gamble by 5.8% in the 4th quarter. Cascade Investment Group Inc. now owns 3,037 shares of the company’s stock valued at $509,000 after acquiring an additional 166 shares during the period. Finally, Grove Bank & Trust lifted its holdings in Procter & Gamble by 2.8% during the fourth quarter. Grove Bank & Trust now owns 15,228 shares of the company’s stock valued at $2,553,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.5 %

PG stock opened at $161.35 on Tuesday. The company has a market capitalization of $379.98 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a one year low of $146.28 and a one year high of $180.43. The company’s 50 day moving average price is $169.19 and its two-hundred day moving average price is $169.46.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts predict that The Procter & Gamble Company will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This trade represents a 54.48 % 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, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,447 shares of company stock worth $12,978,820 in the last ninety days. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research note on Friday, December 27th. Piper Sandler started coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Morgan Stanley raised their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. UBS Group decreased their price objective on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut their target price on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.65.

About Procter & Gamble

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.