Procter & Gamble (NYSE:PG) Stock Price Down 0.2% Following Insider Selling

The Procter & Gamble Company (NYSE:PG) traded down 0.2% on Wednesday following insider selling activity. The stock traded as low as $169.29 and last traded at $169.44. 721,975 shares traded hands during trading, a decline of 89% from the average session volume of 6,662,001 shares. The stock had previously closed at $169.70.

Specifically, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,343,110. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PG shares. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Piper Sandler started coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Evercore ISI boosted their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Price Performance

The company’s 50 day simple moving average is $171.88 and its two-hundred day simple moving average is $167.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The stock has a market capitalization of $400.23 billion, a P/E ratio of 27.71, a PEG ratio of 3.72 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $1.83 EPS. As a group, equities analysts expect that The Procter & Gamble Company will post 6.98 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Institutional Trading of Procter & Gamble

Hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at $29,000. Ruedi Wealth Management Inc. boosted its position in shares of Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble during the second quarter worth $34,000. Finally, Quest Partners LLC bought a new stake in Procter & Gamble in the second quarter valued at about $36,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Company Profile

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.