Abner Herrman & Brock LLC Buys 2,944 Shares of The Procter & Gamble Company (NYSE:PG)

Abner Herrman & Brock LLC lifted its stake in The Procter & Gamble Company (NYSE:PG) by 9.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,561 shares of the company’s stock after purchasing an additional 2,944 shares during the period. Abner Herrman & Brock LLC’s holdings in Procter & Gamble were worth $5,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PG. Brandywine Managers LLC bought a new position in Procter & Gamble during the first quarter worth about $22,326,000. BSW Wealth Partners lifted its holdings in Procter & Gamble by 0.5% during the first quarter. BSW Wealth Partners now owns 27,813 shares of the company’s stock worth $4,136,000 after acquiring an additional 132 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Procter & Gamble by 12.5% during the first quarter. Ballentine Partners LLC now owns 46,655 shares of the company’s stock worth $6,937,000 after acquiring an additional 5,202 shares in the last quarter. Advisor Partners II LLC lifted its holdings in Procter & Gamble by 2.7% during the first quarter. Advisor Partners II LLC now owns 114,256 shares of the company’s stock worth $16,987,000 after acquiring an additional 3,037 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC lifted its holdings in Procter & Gamble by 7.3% during the first quarter. Lineweaver Wealth Advisors LLC now owns 27,831 shares of the company’s stock worth $4,139,000 after acquiring an additional 1,899 shares in the last quarter. 63.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on PG. Stifel Nicolaus boosted their price target on Procter & Gamble from $155.00 to $161.00 in a report on Monday, July 31st. Barclays boosted their price target on Procter & Gamble from $160.00 to $166.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Procter & Gamble from $170.00 to $173.00 and gave the company a “buy” rating in a report on Monday, July 31st. Wells Fargo & Company boosted their price target on Procter & Gamble from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Finally, William Blair began coverage on Procter & Gamble in a report on Friday, September 8th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.82.

Insider Buying and Selling at Procter & Gamble

In other news, CAO Matthew W. Janzaruk sold 33,022 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $156.26, for a total transaction of $5,160,017.72. Following the transaction, the chief accounting officer now owns 888 shares in the company, valued at $138,758.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Ma. Fatima Francisco sold 8,387 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $156.87, for a total transaction of $1,315,668.69. Following the sale, the chief executive officer now owns 962 shares of the company’s stock, valued at $150,908.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew W. Janzaruk sold 33,022 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $156.26, for a total value of $5,160,017.72. Following the sale, the chief accounting officer now directly owns 888 shares in the company, valued at approximately $138,758.88. The disclosure for this sale can be found here. Insiders have sold 106,607 shares of company stock worth $16,523,793 over the last 90 days. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $154.79 on Friday. The stock has a 50 day moving average price of $153.20 and a 200 day moving average price of $150.06. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $158.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.63. The stock has a market capitalization of $364.89 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, July 28th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. The firm had revenue of $20.60 billion for the quarter, compared to analyst estimates of $20.01 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 17.87%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share. Analysts predict that The Procter & Gamble Company will post 6.38 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st were paid a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $3.76 annualized dividend and a yield of 2.43%. Procter & Gamble’s dividend payout ratio is 63.73%.

About Procter & Gamble

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.