Procter & Gamble (NYSE:PG) Stock Price Up 1.5% – Here’s What Happened

The Procter & Gamble Company (NYSE:PG) shot up 1.5% during trading on Wednesday . The company traded as high as $165.15 and last traded at $165.30. 1,714,284 shares changed hands during trading, a decline of 73% from the average session volume of 6,456,677 shares. The stock had previously closed at $162.85.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler decreased their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, UBS Group restated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.82.

Procter & Gamble Price Performance

The stock has a market capitalization of $393.80 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 3.76 and a beta of 0.41. The company’s 50-day simple moving average is $168.47 and its 200 day simple moving average is $169.46. 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 announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. Equities research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Insider Transactions at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,450 shares of company stock worth $23,988,008. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently added to or reduced their stakes in PG. NewSquare Capital LLC lifted its position in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Navigoe LLC acquired a new position in shares of Procter & Gamble during the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble in the third quarter valued at approximately $33,000. Finally, Hoey Investments Inc. raised its position in Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Company Profile

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.