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

The Procter & Gamble Company (NYSE:PG - Get Free Report) rose 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 were traded 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. Investors of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, January 24th. Procter & Gamble's dividend payout ratio is currently 69.31%.

Analyst Upgrades and Downgrades

PG has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price target on the stock. Barclays cut Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price target for the company. in a report on Monday, September 30th. Morgan Stanley raised their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Wells Fargo & Company lowered their target price on Procter & Gamble from $190.00 to $176.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $179.75.

Procter & Gamble Stock Up 0.0 %

The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $169.40 and a 200 day moving average of $169.52. The firm has a market cap of $376.22 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 earnings per share. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the company'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 sale, the chief executive officer now directly owns 39,977 shares of the company's stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,439 shares of company stock worth $13,317,460. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Joule Financial LLC grew its position in Procter & Gamble by 1.8% during the fourth quarter. Joule Financial LLC now owns 5,845 shares of the company's stock valued at $980,000 after buying an additional 106 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of Procter & Gamble by 7.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 16,346 shares of the company's stock valued at $2,740,000 after acquiring an additional 1,176 shares during the period. Sandy Cove Advisors LLC increased its stake in shares of Procter & Gamble by 4.3% during the 4th quarter. Sandy Cove Advisors LLC now owns 4,704 shares of the company's stock worth $789,000 after purchasing an additional 193 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in shares of Procter & Gamble by 2.0% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 18,099 shares of the company's stock worth $3,034,000 after purchasing an additional 354 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its holdings in Procter & Gamble by 5.4% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 8,090 shares of the company's stock valued at $1,292,000 after purchasing an additional 418 shares during the period. Institutional investors 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.