Prosperity Wealth Management Inc. Has $2.46 Million Position in Procter & Gamble Company (The) (NYSE:PG)

Prosperity Wealth Management Inc. lowered its position in Procter & Gamble Company (The) (NYSE:PG) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,443 shares of the company’s stock after selling 305 shares during the quarter. Procter & Gamble accounts for approximately 1.2% of Prosperity Wealth Management Inc.’s investment portfolio, making the stock its 15th largest position. Prosperity Wealth Management Inc.’s holdings in Procter & Gamble were worth $2,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock valued at $38,524,976,000 after purchasing an additional 1,592,061 shares during the period. Geode Capital Management LLC increased its position in Procter & Gamble by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares during the period. Norges Bank acquired a new stake in Procter & Gamble during the 4th quarter valued at approximately $5,244,463,000. Northern Trust Corp increased its position in Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the period. Finally, Franklin Resources Inc. increased its position in Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now directly owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Shares of PG opened at $158.53 on Wednesday. Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43. The business’s fifty day moving average is $163.73 and its 200 day moving average is $166.46. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The stock has a market cap of $371.67 billion, a P/E ratio of 25.16, a P/E/G ratio of 4.74 and a beta of 0.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same period last year, the business earned $1.52 EPS. Procter & Gamble’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.67%. Procter & Gamble’s dividend payout ratio (DPR) is 67.14%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PG shares. Erste Group Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Citigroup cut their price target on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Redburn Atlantic cut Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target on the stock. in a report on Thursday, May 1st. Royal Bank Of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Finally, Raymond James Financial cut their price target on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.86.

Procter & Gamble Company Profile

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.