Cornerstone Wealth Group LLC Boosts Stock Position in The Procter & Gamble Company (NYSE:PG)

Cornerstone Wealth Group LLC raised its stake in shares of The Procter & Gamble Company (NYSE:PG) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 53,264 shares of the company’s stock after acquiring an additional 1,124 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Procter & Gamble were worth $9,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Welch Group LLC raised its stake in Procter & Gamble by 0.9% during the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after acquiring an additional 2,990 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after buying an additional 10,777 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Procter & Gamble by 416.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after buying an additional 1,466,115 shares in the last quarter. Octavia Wealth Advisors LLC raised its stake in shares of Procter & Gamble by 51.3% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 59,647 shares of the company’s stock worth $9,837,000 after buying an additional 20,218 shares in the last quarter. Finally, Mystic Asset Management Inc. raised its stake in shares of Procter & Gamble by 4.1% during the 1st quarter. Mystic Asset Management Inc. now owns 10,107 shares of the company’s stock worth $1,640,000 after buying an additional 402 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI increased their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price target on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Finally, Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity

In other news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares of the company’s stock, valued at $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 389,144 shares of company stock valued at $66,184,385 over the last quarter. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $166.30 on Thursday. The business’s fifty day moving average price is $171.80 and its two-hundred day moving average price is $167.86. The stock has a market cap of $391.64 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 3.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.