Procter & Gamble
The company offers a very solid dividend, which was raised by four cents per share to $0.79 last year and should be raised again soon. Procter & Gamble Co. (NYSE: PG) is one of the world’s largest consumer products companies. Its many brands include Pampers, Tide, Bounty, Charmin, Gillette, Oral B, Crest, Olay, Pantene, Head & Shoulders, Ariel, Gain, Always, Tampax, Downy and Dawn. Some of these are among the most valuable brands in the world.
The company sells its products through mass merchandisers, e-commerce, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, baby stores, specialty beauty stores, high-frequency stores and pharmacies. The company has been very innovative in its product development process and uses that to help ensure future growth and cash flow. This should provide investors years of steady growth and dividends.
Shareholders receive a 2.17% dividend. The BofA Securities price objective for Procter & Gamble stock is $180. the consensus target is $166.26, and shares closed at $160.50 on Friday.
This more off-the-radar pick makes great sense for investors looking for a solid regional winner. Truist Financial Corp. (NYSE: TFC) is a bank holding company, incorporated in North Carolina and headquartered in Charlotte. The company was formerly known as BB&T, but it changed its name in December 2019 upon the acquisition of SunTrust Banks.
The complete transition to the Truist brand is expected to take about two years. Until then, customers of both BB&T and SunTrust will be served through their respective bank branches using the same apps, websites and services as before the merger closed. As part of the regulatory approval process, the new company will sell off 30 SunTrust branches in North Carolina, Virginia and Georgia to First Horizon Bank and divest $2.4 billion in deposits to “mitigate the competitive effects of the merger,” according to the Federal Reserve.
Truist’s footprint is located in one of the strongest and fastest-growing regions of the United States, and the analysts expect the company to maintain a competitive advantage over many of its competitors headquartered outside its footprint due to its being physically located in the southeast part of the country.
Investors in Truist Financial stock receive a 3.07% dividend. BofA Securities has set a $76 target. The consensus figure is $70.68, and shares ended last week at $62.58.
While investors are probably salivating after Friday’s solid market moves, the reality is the stock market remains extremely pricey and stocks are trading at some of the highest multiples in years. For growth and income investors who are more conservative, moving to these secure dividend companies now makes sense.
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