Procter & Gamble (NYSE:PG) Price Target Raised to $190.00 at Wells Fargo & Company

Procter & Gamble (NYSE:PG) had its price target lifted by Wells Fargo & Company from $188.00 to $190.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also recently commented on PG. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research note on Monday, September 30th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI increased their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.00.

Procter & Gamble Trading Up 2.0 %

NYSE:PG opened at $176.28 on Friday. The firm has a 50 day moving average of $170.04 and a 200 day moving average of $168.66. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. Procter & Gamble has a 52 week low of $142.50 and a 52 week high of $177.94. The stock has a market capitalization of $415.15 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 3.74 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter last year, the firm earned $1.83 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Procter & Gamble will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.28%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Activity

In other news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. This represents a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,673 shares of company stock worth $10,102,753 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PG. China Universal Asset Management Co. Ltd. grew its position in shares of Procter & Gamble by 5.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock valued at $5,192,000 after purchasing an additional 1,657 shares in the last quarter. Quent Capital LLC boosted its stake in Procter & Gamble by 2.0% during the first quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock worth $1,733,000 after buying an additional 206 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Procter & Gamble by 10.7% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 2,535 shares of the company’s stock worth $411,000 after acquiring an additional 245 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of Procter & Gamble by 1.0% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 44,016 shares of the company’s stock worth $7,142,000 after acquiring an additional 424 shares during the last quarter. Finally, Transcendent Capital Group LLC raised its holdings in shares of Procter & Gamble by 94.8% during the 1st quarter. Transcendent Capital Group LLC now owns 411 shares of the company’s stock worth $67,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

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.