StockNews.com assumed coverage on shares of Procter & Gamble (NYSE:PG – Get Rating) in a research note released on Thursday. The firm issued a hold rating on the stock.
A number of other research firms have also commented on PG. Citigroup started coverage on shares of Procter & Gamble in a research note on Thursday, February 16th. They issued a buy rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a neutral rating to an overweight rating and increased their price objective for the company from $150.00 to $155.00 in a research note on Friday, March 3rd. Raymond James lifted their price objective on shares of Procter & Gamble from $165.00 to $170.00 and gave the company an outperform rating in a research report on Friday, January 13th. Barclays lowered their target price on shares of Procter & Gamble from $161.00 to $158.00 and set an overweight rating on the stock in a research note on Monday, January 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Procter & Gamble from $168.00 to $162.00 and set an overweight rating on the stock in a research report on Friday, January 20th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of Moderate Buy and a consensus price target of $155.67.
Procter & Gamble Stock Performance
Shares of PG stock opened at $142.93 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $141.73 and its 200-day simple moving average is $140.64. Procter & Gamble has a 12-month low of $122.18 and a 12-month high of $164.90. The company has a market cap of $337.19 billion, a PE ratio of 25.08, a PEG ratio of 3.99 and a beta of 0.40.
Procter & Gamble Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were given a $0.9133 dividend. The ex-dividend date was Thursday, January 19th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.56%. Procter & Gamble’s dividend payout ratio is currently 64.04%.
Insider Buying and Selling at Procter & Gamble
In related news, CEO Jon R. Moeller sold 2,151 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the sale, the chief executive officer now owns 226,748 shares in the company, valued at $31,141,570.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jon R. Moeller sold 2,151 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the transaction, the chief executive officer now directly owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan Street Whaley sold 709 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $97,374.06. Following the completion of the transaction, the insider now directly owns 10,198 shares in the company, valued at approximately $1,400,593.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,766 shares of company stock worth $656,511. 0.26% of the stock is owned by insiders.
Hedge Funds Weigh In On Procter & Gamble
Several institutional investors and hedge funds have recently modified their holdings of the business. Ledyard National Bank grew its stake in shares of Procter & Gamble by 1.2% during the third quarter. Ledyard National Bank now owns 81,058 shares of the company’s stock worth $10,233,000 after purchasing an additional 961 shares in the last quarter. Autumn Glory Partners LLC boosted its position in Procter & Gamble by 38.9% during the third quarter. Autumn Glory Partners LLC now owns 10,954 shares of the company’s stock worth $1,383,000 after acquiring an additional 3,070 shares during the last quarter. Private Wealth Partners LLC boosted its holdings in shares of Procter & Gamble by 9.4% in the 3rd quarter. Private Wealth Partners LLC now owns 28,407 shares of the company’s stock valued at $3,586,000 after purchasing an additional 2,445 shares during the last quarter. Udine Wealth Management Inc. acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at $752,000. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at $665,000. Hedge funds and other institutional investors own 62.13% 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 & Home Care, and Baby, Feminine & 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.
Further Reading
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