Procter & Gamble (NYSE:PG) Trading 2.3% Higher – Time to Buy?

The Procter & Gamble Company (NYSE:PG) shot up 2.3% during mid-day trading on Thursday . The company traded as high as $169.77 and last traded at $170.23. 1,665,178 shares were traded during trading, a decline of 76% from the average session volume of 7,037,228 shares. The stock had previously closed at $166.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PG shares. Erste Group Bank raised Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Truist Financial upped their price target on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 3rd. Wells Fargo & Company upped their target price on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Finally, Piper Sandler decreased their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.50.

Procter & Gamble Trading Up 2.5 %

The firm has a fifty day moving average of $168.39 and a 200 day moving average of $168.51. The firm has a market capitalization of $400.01 billion, a PE ratio of 27.16, a P/E/G ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be paid a dividend of $1.0568 per share. The ex-dividend date of this dividend is Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.48%. Procter & Gamble’s dividend payout ratio (DPR) is 67.20%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. The trade was a 61.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 172,814 shares in the company, valued at approximately $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 have sold a total of 143,450 shares of company stock worth $23,988,008 over the last quarter. 0.18% of the stock is owned by company insiders.

Institutional Trading of Procter & Gamble

A number of institutional investors have recently made changes to their positions in PG. NewSquare Capital LLC grew its stake in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter valued at $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at $31,000. Hoey Investments Inc. grew its position in Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Procter & Gamble in the 4th quarter valued at approximately $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

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.