Sherman Asset Management Inc. Acquires 143 Shares of The Procter & Gamble Company (NYSE:PG)

Sherman Asset Management Inc. raised its holdings in The Procter & Gamble Company (NYSE:PG) by 5.6% in the 1st quarter, HoldingsChannel reports. The firm owned 2,674 shares of the company’s stock after purchasing an additional 143 shares during the quarter. Sherman Asset Management Inc.’s holdings in Procter & Gamble were worth $456,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Abacus Planning Group Inc. lifted its position in shares of Procter & Gamble by 1.2% during the first quarter. Abacus Planning Group Inc. now owns 5,759 shares of the company’s stock worth $981,000 after purchasing an additional 67 shares in the last quarter. Capital Investment Advisors LLC raised its position in Procter & Gamble by 0.8% in the 1st quarter. Capital Investment Advisors LLC now owns 211,461 shares of the company’s stock worth $36,037,000 after purchasing an additional 1,755 shares during the last quarter. Hickory Point Bank & Trust lifted its holdings in Procter & Gamble by 1.6% during the 1st quarter. Hickory Point Bank & Trust now owns 5,148 shares of the company’s stock worth $877,000 after buying an additional 83 shares in the last quarter. Central Bank & Trust Co. boosted its position in Procter & Gamble by 3.1% in the 1st quarter. Central Bank & Trust Co. now owns 13,335 shares of the company’s stock valued at $2,273,000 after buying an additional 400 shares during the last quarter. Finally, Meridian Financial Partners LLC increased its stake in shares of Procter & Gamble by 1.2% in the 1st quarter. Meridian Financial Partners LLC now owns 12,747 shares of the company’s stock valued at $2,172,000 after buying an additional 151 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.7%

NYSE:PG opened at $164.01 on Monday. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The stock has a 50-day moving average price of $164.01 and a two-hundred day moving average price of $167.21. The stock has a market cap of $384.53 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. As a group, equities analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a dividend of $1.0568 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.58%. Procter & Gamble’s dividend payout ratio is currently 66.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PG. Truist Financial cut their price target on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research note 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 on the stock in a research report on Friday, April 11th. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday, April 25th. Raymond James cut their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Bank of America lowered their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $178.86.

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 shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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.