Pinnacle Financial Partners Inc Sells 6,138 Shares of The Procter & Gamble Company (NYSE:PG)

Pinnacle Financial Partners Inc lowered its stake in The Procter & Gamble Company (NYSE:PG) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,065 shares of the company’s stock after selling 6,138 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Procter & Gamble were worth $30,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Procter & Gamble by 19,030.8% during the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Procter & Gamble by 16,292.0% during the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after buying an additional 3,653,477 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after acquiring an additional 1,466,115 shares during the last quarter. Swedbank AB purchased a new position in Procter & Gamble in the first quarter worth about $233,788,000. Finally, Ilex Capital Partners UK LLP bought a new stake in Procter & Gamble during the first quarter worth approximately $228,212,000. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the subject of a number of recent research reports. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. Finally, Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Stock Down 0.1 %

NYSE:PG opened at $165.84 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94. The company has a 50-day moving average of $170.79 and a 200 day moving average of $168.29. The firm has a market cap of $390.56 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42.

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

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is 69.48%.

Insider Buying and Selling

In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now directly owns 13,072 shares in the company, valued at $2,212,043.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares in the company, valued at $2,332,570. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,597 shares of company stock worth $53,268,499 in the last three months. 0.18% of the stock is owned by insiders.

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.