Procter & Gamble (NYSE:PG) Trading 0.5% Higher - Here's What Happened

The Procter & Gamble Company (NYSE:PG - Get Free Report) rose 0.5% during mid-day trading on Wednesday . The stock traded as high as $169.18 and last traded at $168.94. Approximately 2,460,756 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 6,738,386 shares. The stock had previously closed at $168.11.

Analyst Ratings Changes

A number of research analysts recently commented on the company. DA Davidson upgraded Procter & Gamble from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $160.00 to $209.00 in a research note on Monday, November 25th. Barclays lowered shares of Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, Morgan Stanley lifted their price target on Procter & Gamble from $174.00 to $191.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Eight research 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $180.45.

Procter & Gamble Stock Up 0.5 %

The firm has a market capitalization of $397.86 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.70 and a beta of 0.44. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $170.62 and a 200-day moving average of $169.82.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 EPS. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.38%. Procter & Gamble's payout ratio is currently 69.31%.

Insider Transactions at Procter & Gamble

In related news, CEO Jon R. Moeller sold 7,007 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the completion of the sale, the chief executive officer now directly owns 269,172 shares in the company, valued at approximately $46,203,373.80. This trade represents a 2.54 % 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 Procter & Gamble stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now directly owns 19,341 shares of the company's stock, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock valued at $14,629,038 over the last quarter. Company insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Procter & Gamble

A number of hedge funds and other institutional investors have recently made changes to their positions in PG. Ridgewood Investments LLC acquired a new stake in shares of Procter & Gamble in the second quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Procter & Gamble by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,103,655 shares of the company's stock worth $182,015,000 after purchasing an additional 83,483 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Procter & Gamble by 0.3% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 40,321 shares of the company's stock valued at $6,650,000 after purchasing an additional 112 shares during the last quarter. FAS Wealth Partners Inc. raised its position in shares of Procter & Gamble by 3.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,327 shares of the company's stock valued at $4,342,000 after purchasing an additional 837 shares during the period. Finally, AM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble in the second quarter worth $226,000. 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.