Abner Herrman & Brock LLC Has $5.38 Million Position in The Procter & Gamble Company (NYSE:PG)

Abner Herrman & Brock LLC cut its holdings in The Procter & Gamble Company (NYSE:PG) by 19.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,550 shares of the company’s stock after selling 7,495 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Procter & Gamble were worth $5,377,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble in the fourth quarter worth $5,244,463,000. GAMMA Investing LLC raised its holdings in Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after buying an additional 7,913,335 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Procter & Gamble in the fourth quarter worth about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Procter & Gamble by 1,195.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after acquiring an additional 2,973,757 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Procter & Gamble by 62.5% during the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Up 0.8%

Shares of PG stock opened at $169.92 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The firm has a fifty day moving average of $164.35 and a 200-day moving average of $167.40. The Procter & Gamble Company has a 52-week low of $156.58 and a 52-week high of $180.43. The stock has a market cap of $398.38 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Monday, April 21st. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is currently 66.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Redburn Partners set a $161.00 target price on Procter & Gamble in a report on Thursday, May 1st. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Royal Bank of Canada upgraded shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $164.00 to $177.00 in a report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Finally, Citigroup dropped their price objective on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.52.

Insider Buying and Selling

In related news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble 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.