Procter & Gamble (NYSE:PG) Stock Price Up 0.5% After Dividend Announcement

The Procter & Gamble Company (NYSE:PG) was up 0.5% during trading on Wednesday after the company announced a dividend. The stock traded as high as $159.47 and last traded at $159.15. Approximately 1,707,627 shares were traded during trading, a decline of 76% from the average daily volume of 6,981,983 shares. The stock had previously closed at $158.39.

The newly announced dividend which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be issued a $1.0568 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.58%. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PG. Piper Sandler lowered their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.00.

Procter & Gamble Stock Up 0.9 %

The company has a market capitalization of $384.08 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company’s fifty day moving average is $168.37 and its 200-day moving average is $168.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same period in the prior year, the company posted $1.84 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock valued at $23,988,008 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Procter & Gamble

Large investors have recently made changes to their positions in the company. Howard Capital Management Group LLC raised its stake in Procter & Gamble by 1.0% during the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock valued at $1,442,000 after purchasing an additional 82 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Procter & Gamble by 14.7% during the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock valued at $820,031,000 after buying an additional 608,168 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of Procter & Gamble in the 3rd quarter valued at about $201,000. TCW Group Inc. grew its position in Procter & Gamble by 97.9% in the third quarter. TCW Group Inc. now owns 76,910 shares of the company’s stock worth $13,321,000 after acquiring an additional 38,048 shares in the last quarter. Finally, Invst LLC increased its stake in Procter & Gamble by 0.7% during the third quarter. Invst LLC now owns 15,889 shares of the company’s stock worth $2,752,000 after acquiring an additional 103 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

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.