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

Thrive Wealth Management LLC boosted its position in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,861 shares of the company’s stock after purchasing an additional 786 shares during the quarter. Procter & Gamble accounts for about 0.5% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Thrive Wealth Management LLC’s holdings in Procter & Gamble were worth $1,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PG. Lansing Street Advisors acquired a new position in shares of Procter & Gamble in the first quarter valued at approximately $37,000. Western Pacific Wealth Management LP bought a new stake in shares of Procter & Gamble in the fourth quarter worth $40,000. Dravo Bay LLC bought a new stake in shares of Procter & Gamble in the first quarter worth $40,000. Retirement Group LLC lifted its position in shares of Procter & Gamble by 48.2% in the first quarter. Retirement Group LLC now owns 283 shares of the company’s stock worth $43,000 after purchasing an additional 92 shares in the last quarter. Finally, IAG Wealth Partners LLC lifted its position in shares of Procter & Gamble by 31.0% in the first quarter. IAG Wealth Partners LLC now owns 317 shares of the company’s stock worth $48,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 63.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial cut their price objective on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. Wells Fargo & Company cut their price objective on shares of Procter & Gamble from $170.00 to $160.00 in a research report on Friday, July 22nd. UBS Group cut their price objective on shares of Procter & Gamble to $153.00 in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Price Performance

NYSE:PG opened at $138.28 on Monday. The Procter & Gamble Company has a one year low of $129.50 and a one year high of $165.35. The company has a market cap of $329.87 billion, a P/E ratio of 23.80, a P/E/G ratio of 3.55 and a beta of 0.35. The firm’s fifty day moving average price is $143.26 and its two-hundred day moving average price is $147.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45.

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). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.41 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Procter & Gamble’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts expect that The Procter & Gamble Company will post 5.94 earnings per share for the current year.

Procter & Gamble Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were paid a $0.913 dividend. The ex-dividend date was Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.64%. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.82%.

Insider Activity at Procter & Gamble

In related news, insider Mary Theresa Grabowski sold 10,397 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total value of $1,517,962.00. Following the transaction, the insider now directly owns 4,353 shares in the company, valued at $635,538. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, insider Mary Theresa Grabowski sold 10,397 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the sale, the insider now directly owns 4,353 shares in the company, valued at $635,538. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the sale, the chief executive officer now owns 4,002 shares in the company, valued at $580,770.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 289,321 shares of company stock worth $42,559,426. Corporate 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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