Pinnacle Financial Partners Inc Sells 3,491 Shares of Procter & Gamble Company (The) (NYSE:PG)

Pinnacle Financial Partners Inc trimmed its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 171,154 shares of the company's stock after selling 3,491 shares during the period. Pinnacle Financial Partners Inc's holdings in Procter & Gamble were worth $29,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PG. Brighton Jones LLC raised its stake in shares of Procter & Gamble by 51.5% in the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after acquiring an additional 13,617 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Procter & Gamble by 493.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock valued at $57,294,000 after buying an additional 284,174 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in Procter & Gamble in the 4th quarter valued at approximately $170,000. Exencial Wealth Advisors LLC grew its holdings in Procter & Gamble by 1.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 16,023 shares of the company's stock valued at $2,686,000 after buying an additional 236 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Procter & Gamble by 0.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,517,274 shares of the company's stock valued at $254,371,000 after buying an additional 8,864 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PG. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Piper Sandler raised their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Citigroup lowered their target price on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $178.45.

Procter & Gamble Price Performance

Procter & Gamble stock traded down $0.48 on Friday, reaching $160.72. The company's stock had a trading volume of 6,999,589 shares, compared to its average volume of 7,494,586. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The company has a market cap of $376.82 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 4.58 and a beta of 0.40. The business's fifty day moving average price is $162.10 and its 200 day moving average price is $165.30. Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business's revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Equities analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is currently 67.14%.

Insiders Place Their Bets

In other news, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer owned 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% 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, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

About Procter & Gamble

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.