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

Cornerstone Wealth Management LLC lifted its position in The Procter & Gamble Company (NYSE:PG) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,785 shares of the company’s stock after buying an additional 1,226 shares during the period. Procter & Gamble makes up about 1.1% of Cornerstone Wealth Management LLC’s portfolio, making the stock its 14th largest position. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $16,897,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PG. Fiera Capital Corp lifted its stake in shares of Procter & Gamble by 1,135.1% during the second quarter. Fiera Capital Corp now owns 20,688 shares of the company’s stock worth $3,412,000 after buying an additional 19,013 shares during the period. Comerica Bank raised its stake in Procter & Gamble by 1.5% in the 2nd quarter. Comerica Bank now owns 813,767 shares of the company’s stock worth $134,206,000 after acquiring an additional 11,692 shares during the last quarter. Peloton Wealth Strategists purchased a new stake in Procter & Gamble during the 2nd quarter valued at about $234,000. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Procter & Gamble by 5.6% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 3,013 shares of the company’s stock valued at $497,000 after purchasing an additional 160 shares during the period. Finally, Texas Capital Bancshares Inc TX raised its stake in shares of Procter & Gamble by 6.4% in the second quarter. Texas Capital Bancshares Inc TX now owns 4,520 shares of the company’s stock worth $745,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Down 1.0 %

Shares of NYSE PG opened at $164.41 on Friday. The Procter & Gamble Company has a 52-week low of $152.06 and a 52-week high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.49. The company’s 50-day simple moving average is $168.85 and its 200-day simple moving average is $169.34. The firm has a market cap of $387.20 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 3.69 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21,657,595.49 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 EPS. Equities analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.45%. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. DA Davidson reissued a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a report on Thursday. Wells Fargo & Company upped their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group reduced their price objective on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $180.53.

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.