The Procter & Gamble Company (NYSE:PG – Get Free Report) shares shot up 0.1% during mid-day trading on Friday . The stock traded as high as $176.74 and last traded at $176.22. 797,416 shares were traded during mid-day trading, a decline of 88% from the average session volume of 6,694,459 shares. The stock had previously closed at $176.03.
Analyst Ratings Changes
Several analysts recently commented on the stock. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their target price on Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.45.
Get Our Latest Stock Report on PG
Procter & Gamble Stock Performance
Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.
Procter & Gamble Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.
Insider Activity
In other news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,080 shares of company stock valued at $14,629,038. Company insiders own 0.18% of the company’s stock.
Institutional Investors Weigh In On Procter & Gamble
A number of large investors have recently modified their holdings of PG. International Assets Investment Management LLC lifted its stake in Procter & Gamble by 19,030.8% during the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Procter & Gamble by 16,292.0% during the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after buying an additional 3,653,477 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Procter & Gamble during the 3rd quarter worth $301,950,000. 65.77% of the stock is owned by hedge funds and other institutional investors.
About Procter & Gamble
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.
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