Procter & Gamble (NYSE:PG) Shares Up 0.4% After Dividend Announcement

The Procter & Gamble Company (NYSE:PG)’s stock price traded up 0.4% during trading on Wednesday after the company announced a dividend. The company traded as high as $169.80 and last traded at $168.88. 3,077,321 shares changed hands during trading, a decline of 54% from the average session volume of 6,654,809 shares. The stock had previously closed at $168.16.

The newly announced dividend which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.38%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PG. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.05.

Procter & Gamble Stock Down 0.2 %

The firm has a 50-day moving average price of $171.39 and a two-hundred day moving average price of $166.65. The firm has a market cap of $398.74 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.73 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Insider Activity at Procter & Gamble

In related news, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares in the company, valued at approximately $6,325,360. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 383,194 shares of company stock valued at $65,140,718 over the last ninety days. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently bought and sold shares of PG. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new stake in Procter & Gamble in the second quarter valued at $29,000. Ruedi Wealth Management Inc. boosted its position in shares of Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Procter & Gamble during the 2nd quarter worth $34,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Procter & Gamble in the 4th quarter valued at about $31,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.