Procter & Gamble (NYSE:PG) Stock Price Up 0.2% After Dividend Announcement

The Procter & Gamble Company (NYSE:PG) shares traded up 0.2% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $161.15 and last traded at $160.08. 2,432,942 shares traded hands during trading, a decline of 61% from the average session volume of 6,257,596 shares. The stock had previously closed at $159.74.

The newly announced 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. The ex-dividend date is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.51%. Procter & Gamble’s payout ratio is presently 69.48%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research report on Monday, September 30th. Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. JPMorgan Chase & Co. cut their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $180.05.

Procter & Gamble Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $378.08 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The company has a 50-day moving average of $169.37 and a 200-day moving average of $169.45.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $1.83 earnings per share. Procter & Gamble’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.93 earnings per share for the current fiscal year.

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 that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock valued at $13,317,460 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Large investors have recently bought and sold shares of the stock. Acorn Creek Capital LLC increased its position in shares of Procter & Gamble by 2.8% during the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after purchasing an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in Procter & Gamble by 1.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after purchasing an additional 59 shares during the period. Traveka Wealth LLC grew its position in Procter & Gamble by 1.7% during the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after buying an additional 60 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 0.7% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock worth $1,507,000 after purchasing an additional 61 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Procter & Gamble by 11.2% in the 3rd quarter. Valued Wealth Advisors LLC now owns 605 shares of the company’s stock worth $105,000 after buying an additional 61 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

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.