Pinnacle Financial Partners Inc. Sells 1,788 Shares of The Procter & Gamble Company (NYSE:PG)


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Pinnacle Financial Partners Inc. reduced its stake in The Procter & Gamble Company (NYSE:PG) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,537 shares of the company’s stock after selling 1,788 shares during the period. Pinnacle Financial Partners Inc.’s holdings in The Procter & Gamble were worth $14,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC boosted its holdings in shares of The Procter & Gamble by 11.8% in the 4th quarter. Global Retirement Partners LLC now owns 18,043 shares of the company’s stock worth $2,510,000 after acquiring an additional 1,908 shares in the last quarter. Ellenbecker Investment Group raised its position in The Procter & Gamble by 9.2% in the 4th quarter. Ellenbecker Investment Group now owns 1,846 shares of the company’s stock valued at $257,000 after purchasing an additional 155 shares during the last quarter. OneAscent Financial Services LLC boosted its stake in The Procter & Gamble by 12.1% in the fourth quarter. OneAscent Financial Services LLC now owns 1,957 shares of the company’s stock worth $272,000 after purchasing an additional 211 shares in the last quarter. Shulman DeMeo Asset Management LLC grew its holdings in shares of The Procter & Gamble by 26.7% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 3,878 shares of the company’s stock worth $540,000 after purchasing an additional 817 shares during the last quarter. Finally, Symphony Financial Ltd. Co. increased its stake in shares of The Procter & Gamble by 6.3% in the fourth quarter. Symphony Financial Ltd. Co. now owns 31,913 shares of the company’s stock valued at $4,398,000 after buying an additional 1,882 shares in the last quarter. 62.81% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on PG. Smith Barney Citigroup increased their price objective on shares of The Procter & Gamble from $159.00 to $165.00 in a report on Wednesday, October 21st. Truist increased their price target on shares of The Procter & Gamble from $125.00 to $150.00 in a research note on Monday, October 19th. Wells Fargo & Company began coverage on shares of The Procter & Gamble in a research report on Monday, December 7th. They issued an “overweight” rating and a $160.00 price objective for the company. Morgan Stanley lifted their target price on The Procter & Gamble from $158.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Finally, Jefferies Financial Group upped their price target on The Procter & Gamble from $153.00 to $166.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $146.08.

Shares of PG stock traded up $0.21 on Wednesday, reaching $137.26. The company had a trading volume of 6,066,148 shares, compared to its average volume of 7,526,106. The stock has a market cap of $340.35 billion, a PE ratio of 26.39, a PEG ratio of 3.53 and a beta of 0.43. The company has a 50-day moving average of $138.01 and a 200-day moving average of $135.84. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 12 month low of $94.34 and a 12 month high of $146.92.

The Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, October 20th. The company reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.21. The Procter & Gamble had a net margin of 18.36% and a return on equity of 29.53%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $18.38 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that The Procter & Gamble Company will post 5.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 22nd will be issued a dividend of $0.7907 per share. The ex-dividend date of this dividend is Thursday, January 21st. This represents a $3.16 annualized dividend and a yield of 2.30%. The Procter & Gamble’s dividend payout ratio is presently 61.72%.

In related news, Director Nelson Peltz sold 306,567 shares of the firm’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $137.31, for a total transaction of $42,094,714.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Taylor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 13th. The stock was sold at an average price of $144.26, for a total transaction of $4,327,800.00. Following the sale, the chief executive officer now owns 301,954 shares in the company, valued at $43,559,884.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 663,635 shares of company stock valued at $93,052,467. Insiders own 0.70% of the company’s stock.

The Procter & Gamble Company Profile

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

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Institutional Ownership by Quarter for The Procter & Gamble (NYSE:PG)

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