Pinnacle Financial Partners Inc Decreases Stock Position in The Procter & Gamble Company (NYSE:PG)

Pinnacle Financial Partners Inc lowered its stake in The Procter & Gamble Company (NYSE:PG) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,645 shares of the company’s stock after selling 420 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Procter & Gamble were worth $29,358,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PG. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter worth about $33,000. Bay Harbor Wealth Management LLC increased its holdings in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after buying an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $46,000. Costello Asset Management INC increased its holdings in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after buying an additional 300 shares during the last quarter. Finally, DecisionPoint Financial LLC increased its holdings in shares of Procter & Gamble by 46.7% in the 4th quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock worth $55,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Up 1.8 %

NYSE:PG opened at $170.17 on Friday. The firm has a 50 day moving average of $166.04 and a 200 day moving average of $169.44. The stock has a market capitalization of $399.02 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 3.76 and a beta of 0.45. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.17%.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the transaction, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. DA Davidson reiterated a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Barclays upped their price target on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, UBS Group dropped their target price on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $180.53.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.