Procter & Gamble (NYSE:PG) Sees Unusually-High Trading Volume After Strong Earnings

The Procter & Gamble Company (NYSE:PG) shares saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 2,230,964 shares changed hands during mid-day trading, a decline of 67% from the previous session’s volume of 6,802,599 shares.The stock last traded at $154.47 and had previously closed at $157.29.

The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 EPS.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $1.0065 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s payout ratio is 67.50%.

Wall Street Analyst Weigh In

PG has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price target on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group initiated coverage on Procter & Gamble in a research report on Friday, March 1st. They issued a “neutral” rating and a $168.00 price target on the stock. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price target for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. Stifel Nicolaus lifted their price target on Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Finally, UBS Group lifted their price target on Procter & Gamble from $172.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $168.53.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total value of $3,549,040.00. Following the sale, the chief executive officer now directly owns 36,845 shares in the company, valued at $5,943,835.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total value of $3,549,040.00. Following the transaction, the chief executive officer now owns 36,845 shares of the company’s stock, valued at $5,943,835.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Marc S. Pritchard sold 101,704 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total value of $15,618,683.28. Following the completion of the transaction, the insider now directly owns 163,428 shares in the company, valued at approximately $25,097,637.96. The disclosure for this sale can be found here. Insiders have sold 279,063 shares of company stock worth $43,187,745 over the last three months. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors and hedge funds have recently bought and sold shares of the business. Advantage Trust Co acquired a new position in shares of Procter & Gamble during the fourth quarter valued at $28,000. Naples Money Management LLC acquired a new position in Procter & Gamble in the fourth quarter valued at about $29,000. Wyrmwood Management LLC acquired a new position in Procter & Gamble in the fourth quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in Procter & Gamble in the fourth quarter valued at about $31,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Procter & Gamble in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.5 %

The firm has a 50 day simple moving average of $159.14 and a two-hundred day simple moving average of $152.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44. The stock has a market cap of $372.11 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 3.22 and a beta of 0.44.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.