Procter & Gamble (NYSE:PG) Trading 0.3% Higher After Dividend Announcement

The Procter & Gamble Company (NYSE:PG)’s share price shot up 0.3% during trading on Tuesday after the company announced a dividend. The company traded as high as $159.64 and last traded at $159.33. 1,295,809 shares were traded during mid-day trading, a decline of 79% from the average session volume of 6,145,146 shares. The stock had previously closed at $158.84.

The newly announced dividend which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.51%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. DA Davidson reiterated a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research report on Friday, December 27th. Finally, Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $180.05.

Procter & Gamble Trading Up 0.6 %

The company has a market cap 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 firm has a 50-day moving average of $169.37 and a 200 day moving average of $169.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

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

Insider Buying and Selling at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 1,992 shares of Procter & Gamble stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,439 shares of company stock valued at $13,317,460. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble during the second quarter worth $28,000. RPg Family Wealth Advisory LLC purchased a new position in Procter & Gamble during the 3rd quarter worth $33,000. Quest Partners LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth $36,000. Costello Asset Management INC raised its holdings in shares of Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after purchasing an additional 300 shares during the last quarter. Finally, William B. Walkup & Associates Inc. bought a new position in shares of Procter & Gamble during the second quarter valued at about $58,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

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.