Procter & Gamble (NYSE:PG) Sets New 52-Week High at $126.77

Procter & Gamble Co (NYSE:PG) reached a new 52-week high during trading on Thursday . The stock traded as high as $126.77 and last traded at $126.22, with a volume of 132891 shares traded. The stock had previously closed at $125.96.

Several research firms recently commented on PG. TheStreet upgraded shares of Procter & Gamble from a “c+” rating to a “b+” rating in a research note on Tuesday, October 22nd. Morgan Stanley boosted their price objective on shares of Procter & Gamble from $130.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Co boosted their target price on shares of Procter & Gamble from $135.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their target price on shares of Procter & Gamble from $122.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $119.07.

The company’s 50 day moving average price is $124.20 and its 200 day moving average price is $120.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.54. The firm has a market cap of $310.95 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.40.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.13. The firm had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $17.43 billion. Procter & Gamble had a net margin of 6.24% and a return on equity of 25.07%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. Sell-side analysts expect that Procter & Gamble Co will post 4.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a $0.7459 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.98 annualized dividend and a yield of 2.36%. Procter & Gamble’s dividend payout ratio (DPR) is 65.93%.

In related news, CEO David S. Taylor sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $124.01, for a total value of $6,200,500.00. Following the sale, the chief executive officer now owns 277,521 shares of the company’s stock, valued at $34,415,379.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven D. Bishop sold 41,165 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $123.36, for a total transaction of $5,078,114.40. Following the completion of the sale, the chief executive officer now directly owns 45,176 shares in the company, valued at approximately $5,572,911.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,288,513 shares of company stock worth $159,734,252. 1.75% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PG. Lucia Wealth Services LLC acquired a new position in Procter & Gamble in the 3rd quarter valued at about $29,000. Belmont Capital LLC acquired a new position in Procter & Gamble during the 4th quarter valued at about $34,000. Selective Wealth Management Inc. acquired a new position in Procter & Gamble during the 3rd quarter valued at about $35,000. Princeton Global Asset Management LLC boosted its stake in Procter & Gamble by 51.4% during the 2nd quarter. Princeton Global Asset Management LLC now owns 442 shares of the company’s stock valued at $48,000 after purchasing an additional 150 shares during the last quarter. Finally, Ironwood Financial llc boosted its stake in Procter & Gamble by 27.3% during the 3rd quarter. Ironwood Financial llc now owns 480 shares of the company’s stock valued at $60,000 after purchasing an additional 103 shares during the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

About Procter & Gamble (NYSE:PG)

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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