The Procter & Gamble Company (NYSE:PG) Shares Purchased by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC boosted its holdings in The Procter & Gamble Company (NYSE:PGGet Rating) by 12.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Procter & Gamble by 1.1% in the first quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock worth $33,236,946,000 after buying an additional 2,394,234 shares during the last quarter. BlackRock Inc. grew its position in Procter & Gamble by 1.2% during the 4th quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock worth $25,651,517,000 after purchasing an additional 1,785,863 shares in the last quarter. State Street Corp grew its position in Procter & Gamble by 1.7% during the 4th quarter. State Street Corp now owns 105,458,164 shares of the company’s stock worth $17,250,846,000 after purchasing an additional 1,716,517 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $3,627,510,000 after purchasing an additional 983,197 shares in the last quarter. Finally, Norges Bank purchased a new position in Procter & Gamble during the 4th quarter worth approximately $3,726,603,000. Institutional investors and hedge funds own 63.45% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, insider Mary Theresa Grabowski sold 10,397 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total value of $1,517,962.00. Following the sale, the insider now owns 4,353 shares of the company’s stock, valued at $635,538. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 907 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $135,442.31. Following the sale, the insider now directly owns 6,253 shares of the company’s stock, valued at $933,760.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Theresa Grabowski sold 10,397 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the transaction, the insider now owns 4,353 shares in the company, valued at $635,538. The disclosure for this sale can be found here. Insiders have sold a total of 289,321 shares of company stock valued at $42,559,426 over the last quarter. 0.26% of the stock is owned by company insiders.

Procter & Gamble Stock Up 0.4 %

Procter & Gamble stock opened at $136.21 on Friday. The firm has a market cap of $324.93 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.49 and a beta of 0.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45. The Procter & Gamble Company has a fifty-two week low of $129.50 and a fifty-two week high of $165.35. The firm has a fifty day moving average price of $142.58 and a two-hundred day moving average price of $147.19.

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

Procter & Gamble Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were issued a dividend of $0.913 per share. The ex-dividend date was Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.68%. Procter & Gamble’s payout ratio is 62.82%.

Wall Street Analyst Weigh In

PG has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. Barclays lowered their price objective 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. Wells Fargo & Company decreased their target price on shares of Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. UBS Group decreased their target price on shares of Procter & Gamble to $153.00 in a research note on Friday, July 22nd. Finally, Truist Financial decreased their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $162.93.

Procter & Gamble Company Profile

(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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