Braun Bostich & Associates Inc. Lowers Stock Position in Procter & Gamble Co (NYSE:PG)

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Braun Bostich & Associates Inc. lessened its stake in Procter & Gamble Co (NYSE:PG) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,780 shares of the company’s stock after selling 411 shares during the period. Procter & Gamble makes up about 0.8% of Braun Bostich & Associates Inc.’s holdings, making the stock its 21st biggest holding. Braun Bostich & Associates Inc.’s holdings in Procter & Gamble were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Tredje AP fonden raised its position in Procter & Gamble by 75.7% during the first quarter. Tredje AP fonden now owns 318,993 shares of the company’s stock valued at $24,019,000 after purchasing an additional 137,465 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its position in shares of Procter & Gamble by 0.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 27,836 shares of the company’s stock valued at $3,062,000 after purchasing an additional 161 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Procter & Gamble by 21.4% in the 1st quarter. Cornerstone Wealth Group LLC now owns 31,817 shares of the company’s stock worth $3,500,000 after buying an additional 5,609 shares during the last quarter. National Asset Management Inc. boosted its stake in Procter & Gamble by 18.5% in the first quarter. National Asset Management Inc. now owns 47,890 shares of the company’s stock worth $5,270,000 after buying an additional 7,479 shares in the last quarter. Finally, Toroso Investments LLC boosted its stake in Procter & Gamble by 62.5% in the first quarter. Toroso Investments LLC now owns 9,930 shares of the company’s stock worth $1,092,000 after buying an additional 3,819 shares in the last quarter. 62.39% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Nelson Peltz sold 3,500,000 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $119.21, for a total transaction of $417,235,000.00. Following the sale, the director now owns 3,891 shares in the company, valued at approximately $463,846.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Deborah P. Majoras sold 12,589 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $122.68, for a total transaction of $1,544,418.52. Following the completion of the sale, the insider now directly owns 44,948 shares in the company, valued at $5,514,220.64. The disclosure for this sale can be found here. Insiders have sold a total of 8,802,488 shares of company stock worth $1,048,532,939 in the last quarter. Company insiders own 1.75% of the company’s stock.

NYSE:PG traded up $1.26 during trading hours on Friday, hitting $112.88. The company had a trading volume of 2,514,896 shares, compared to its average volume of 9,069,309. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.83 and a quick ratio of 0.66. The stock has a 50-day moving average price of $116.49 and a 200 day moving average price of $120.25. The company has a market capitalization of $280.44 billion, a PE ratio of 63.06, a price-to-earnings-growth ratio of 3.19 and a beta of 0.44. Procter & Gamble Co has a 52 week low of $94.34 and a 52 week high of $128.09.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, April 17th. The company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.04. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The firm had revenue of $17.21 billion during the quarter, compared to analysts’ expectations of $17.29 billion. During the same period last year, the company posted $1.06 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Procter & Gamble Co will post 4.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, April 24th were given a dividend of $0.7907 per share. This represents a $3.16 annualized dividend and a yield of 2.80%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 23rd. Procter & Gamble’s payout ratio is presently 69.91%.

A number of brokerages have recently issued reports on PG. Berenberg Bank reaffirmed a “hold” rating and issued a $130.00 price objective on shares of Procter & Gamble in a research note on Friday, January 24th. Morgan Stanley upped their price target on shares of Procter & Gamble from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Stifel Nicolaus lifted their price objective on Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Argus raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Thursday, March 26th. Finally, Citigroup raised their price target on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Procter & Gamble presently has an average rating of “Buy” and an average price target of $130.31.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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

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