The Procter & Gamble Company (NYSE:PG) Holdings Boosted by Synovus Financial Corp

Synovus Financial Corp increased its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,134 shares of the company's stock after purchasing an additional 6,077 shares during the period. Synovus Financial Corp's holdings in Procter & Gamble were worth $32,065,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the 2nd quarter worth $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble during the third quarter worth about $33,000. POM Investment Strategies LLC purchased a new position in Procter & Gamble in the second quarter valued at about $34,000. Finally, Quest Partners LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Stock Up 0.3 %

Shares of NYSE:PG traded up $0.49 during midday trading on Friday, hitting $171.34. 2,127,683 shares of the company's stock traded hands, compared to its average volume of 6,679,061. The firm's fifty day moving average price is $170.69 and its two-hundred day moving average price is $169.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $180.43. The company has a market cap of $403.51 billion, a PE ratio of 29.44, a P/E/G ratio of 3.69 and a beta of 0.44.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to analysts' expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble's dividend payout ratio (DPR) is currently 69.48%.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now owns 19,341 shares of the company's stock, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,080 shares of company stock valued at $14,629,038. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Hsbc Global Res raised Procter & Gamble to a "strong-buy" rating in a research note on Friday, October 4th. Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price target for the company. DZ Bank raised shares of Procter & Gamble from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.45.

About Procter & Gamble

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.