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

The Procter & Gamble Company (NYSE:PGGet Free Report) shares rose 0.2% during trading on Wednesday after the company announced a dividend. The company traded as high as $166.39 and last traded at $166.01. Approximately 837,159 shares were traded during trading, a decline of 87% from the average daily volume of 6,496,115 shares. The stock had previously closed at $165.66.

The newly announced dividend which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PG. Argus boosted their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group increased their target price on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Finally, Barclays increased their target price on shares of Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.72.

Get Our Latest Stock Analysis on PG

Procter & Gamble Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $166.04 and its two-hundred day moving average price is $159.90. The firm has a market capitalization of $393.51 billion, a PE ratio of 27.24, a PEG ratio of 3.18 and a beta of 0.41.

Procter & Gamble (NYSE:PGGet Free Report) last announced its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. The firm had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 earnings per share. On average, equities analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Insider Buying and Selling at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock worth $25,413,051 in the last quarter. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter valued at about $3,956,117,000. Cerity Partners LLC grew its position in Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after acquiring an additional 3,159,796 shares in the last quarter. International Assets Investment Management LLC grew its position in Procter & Gamble by 13,850.3% in the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after acquiring an additional 2,727,685 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after acquiring an additional 2,268,805 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Procter & Gamble by 114.9% in the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after acquiring an additional 1,907,716 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

About Procter & Gamble

(Get Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

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