Synovus Financial Corp reduced its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 169,393 shares of the company's stock after selling 15,741 shares during the period. Synovus Financial Corp's holdings in Procter & Gamble were worth $28,401,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock worth $9,457,000,000 after acquiring an additional 1,267,419 shares in the last quarter. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter worth approximately $5,244,463,000. Franklin Resources Inc. boosted its stake in shares of Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock worth $3,386,194,000 after buying an additional 1,209,275 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Procter & Gamble by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company's stock valued at $3,133,850,000 after buying an additional 312,203 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.
Procter & Gamble Price Performance
Shares of PG stock traded down $0.58 during trading hours on Tuesday, reaching $168.56. The company's stock had a trading volume of 8,763,415 shares, compared to its average volume of 7,058,914. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a market capitalization of $395.24 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 3.76 and a beta of 0.43. The firm's 50 day simple moving average is $168.34 and its 200-day simple moving average is $168.56.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The business's quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.
Procter & Gamble Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, April 21st. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is presently 67.20%.
Insiders Place Their Bets
In related news, insider Marc S. Pritchard sold 90,450 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company's stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company's stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock valued at $23,988,008 in the last 90 days. Corporate insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on PG shares. DA Davidson restated a "buy" rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Erste Group Bank upgraded shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Stifel Nicolaus upped their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $181.50.
View Our Latest Analysis on PG
About Procter & Gamble
(
Free Report)
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.
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