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

The Procter & Gamble Company (NYSE:PG)’s share price shot up 0.5% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $159.47 and last traded at $159.15. 1,707,627 shares changed hands during mid-day trading, a decline of 76% from the average session 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. Stockholders of record on Monday, April 21st will be issued a $1.0568 dividend. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PG shares. Piper Sandler lowered their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Wells Fargo & Company lifted their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.00.

Procter & Gamble Stock Up 2.6 %

The firm’s fifty day moving average is $168.48 and its 200-day moving average is $168.72. The stock has a market capitalization of $381.06 billion, a PE ratio of 25.88, a PEG ratio of 3.76 and a beta of 0.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its earnings results 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 return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same period in the prior year, the business posted $1.84 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Procter & Gamble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Planned Solutions Inc. raised its position in shares of Procter & Gamble by 5.7% during the 1st quarter. Planned Solutions Inc. now owns 4,058 shares of the company’s stock worth $692,000 after purchasing an additional 218 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of Procter & Gamble by 4.6% in the first quarter. RFG Advisory LLC now owns 42,510 shares of the company’s stock worth $7,245,000 after acquiring an additional 1,858 shares during the last quarter. Swisher Financial Concepts Inc. lifted its position in shares of Procter & Gamble by 2.4% in the first quarter. Swisher Financial Concepts Inc. now owns 4,826 shares of the company’s stock valued at $823,000 after acquiring an additional 111 shares in the last quarter. InvesTrust lifted its position in shares of Procter & Gamble by 0.4% in the first quarter. InvesTrust now owns 40,908 shares of the company’s stock valued at $6,972,000 after acquiring an additional 162 shares in the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Procter & Gamble by 6.7% during the first quarter. Merit Financial Group LLC now owns 110,788 shares of the company’s stock valued at $18,881,000 after acquiring an additional 6,951 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

About Procter & Gamble

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.