Strive Asset Management LLC Takes $657,000 Position in The Procter & Gamble Company (NYSE:PG)

Strive Asset Management LLC purchased a new stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,917 shares of the company's stock, valued at approximately $657,000.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Procter & Gamble during the 4th quarter worth about $5,244,463,000. Raymond James Financial Inc. acquired a new position in Procter & Gamble in the fourth quarter worth approximately $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its position in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock valued at $580,596,000 after acquiring an additional 2,973,757 shares in the last quarter. Capital Research Global Investors lifted its stake in Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. Finally, Northern Trust Corp grew its position in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after acquiring an additional 2,703,757 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PG. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Truist Financial lowered their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Finally, Bank of America reduced their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $178.52.

Procter & Gamble Price Performance

PG traded up $0.36 during midday trading on Friday, reaching $165.39. 2,157,018 shares of the company's stock were exchanged, compared to its average volume of 8,099,935. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $164.22 and a two-hundred day simple moving average of $167.29. The firm has a market capitalization of $387.77 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble's revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. As a group, research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, April 21st. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is currently 66.98%.

Insider Activity

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now owns 22,051 shares in the company, valued at $3,785,274.66. The trade was a 44.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,520 shares of company stock worth $10,999,268. Corporate insiders own 0.18% of the company's stock.

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.