Procter & Gamble (NYSE:PG) Shares Up 0.2% Following Dividend Announcement

The Procter & Gamble Company (NYSE:PG)’s share price was up 0.2% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $161.15 and last traded at $160.08. Approximately 2,432,942 shares traded hands during mid-day trading, a decline of 61% from the average daily 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. Shareholders of record on Friday, January 24th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PG. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Morgan Stanley upped their target price 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. DA Davidson reiterated a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research note on Friday, December 27th. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.75.

Procter & Gamble Stock Up 0.0 %

The firm has a fifty day simple moving average of $169.40 and a 200-day simple moving average of $169.52. The firm has a market cap of $376.22 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. 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 posted $1.83 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PG. International Assets Investment Management LLC grew its position in Procter & Gamble by 19,030.8% in the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after acquiring an additional 3,674,286 shares during the last quarter. Geode Capital Management LLC grew its position in Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after acquiring an additional 3,619,466 shares during the last quarter. Franklin Resources Inc. grew its position in Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after acquiring an additional 1,760,214 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Procter & Gamble in the third quarter valued at about $301,950,000. Finally, AMF Tjanstepension AB grew its holdings in shares of Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the last quarter. Institutional investors 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.