The Procter & Gamble Company (NYSE:PG) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,393 shares of the company’s stock after selling 15,741 shares during the quarter. Synovus Financial Corp’s holdings in Procter & Gamble were worth $28,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter valued at about $5,244,463,000. Raymond James Financial Inc. acquired a new stake in shares of Procter & Gamble during the fourth quarter worth about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Procter & Gamble by 1,195.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after buying an additional 2,973,757 shares during the last quarter. APG Asset Management N.V. boosted its position in Procter & Gamble by 1,709.5% in the fourth quarter. APG Asset Management N.V. now owns 2,006,298 shares of the company’s stock valued at $324,825,000 after buying an additional 1,895,421 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock worth $23,988,008 in the last 90 days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 2.1 %

PG opened at $166.96 on Friday. 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 twelve month low of $153.52 and a twelve month high of $180.43. The company has a market cap of $391.50 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a 50-day moving average price of $168.35 and a 200 day moving average price of $168.62.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same period in the prior year, the business earned $1.84 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be paid a $1.0568 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.53%. Procter & Gamble’s dividend payout ratio is 67.20%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PG. JPMorgan Chase & Co. dropped their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Truist Financial increased their price target on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 3rd. DA Davidson reissued a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Seven equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.50.

Procter & Gamble Company Profile

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.