Abner Herrman & Brock LLC Purchases 2,293 Shares of The Procter & Gamble Company (NYSE:PG)

Abner Herrman & Brock LLC raised its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,828 shares of the company’s stock after buying an additional 2,293 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Procter & Gamble were worth $2,995,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Procter & Gamble by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock valued at $33,236,946,000 after buying an additional 2,394,234 shares during the period. BlackRock Inc. grew its holdings in shares of Procter & Gamble by 1.2% during the 4th quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after purchasing an additional 1,785,863 shares during the last quarter. State Street Corp grew its holdings in shares of Procter & Gamble by 1.7% during the 4th quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after purchasing an additional 1,716,517 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Procter & Gamble by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 23,740,255 shares of the company’s stock valued at $3,627,510,000 after purchasing an additional 983,197 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Procter & Gamble during the 4th quarter valued at approximately $3,726,603,000. 63.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PG shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $170.00 to $160.00 in a report on Friday, July 22nd. Evercore ISI set a $170.00 price target on shares of Procter & Gamble in a report on Monday, June 20th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Finally, Barclays cut their target price on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Stock Up 0.4 %

Procter & Gamble stock opened at $136.21 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $129.50 and a 12-month high of $165.35. The firm’s fifty day moving average is $142.58 and its 200 day moving average is $147.19. The company has a market capitalization of $324.93 billion, a PE ratio of 23.44, a PEG ratio of 3.49 and a beta of 0.35.

Procter & Gamble (NYSE:PGGet Rating) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. As a group, sell-side analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were paid a dividend of $0.913 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a yield of 2.68%. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.82%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 987 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $147,388.71. Following the completion of the sale, the chief financial officer now owns 27,330 shares in the company, valued at approximately $4,081,188.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Susan Street Whaley sold 907 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total value of $135,442.31. Following the completion of the sale, the insider now owns 6,253 shares in the company, valued at approximately $933,760.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 987 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total transaction of $147,388.71. Following the completion of the sale, the chief financial officer now owns 27,330 shares of the company’s stock, valued at approximately $4,081,188.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 289,321 shares of company stock worth $42,559,426. 0.26% of the stock is owned by corporate insiders.

About Procter & Gamble

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

Further Reading

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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