Cornerstone Advisors LLC Sells 300 Shares of The Procter & Gamble Company (NYSE:PG)

Cornerstone Advisors LLC lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,100 shares of the company’s stock after selling 300 shares during the quarter. Procter & Gamble accounts for 0.8% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 29th largest position. Cornerstone Advisors LLC’s holdings in Procter & Gamble were worth $20,302,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth $17,696,000. V Square Quantitative Management LLC grew its holdings in Procter & Gamble by 29.0% during the 1st quarter. V Square Quantitative Management LLC now owns 43,202 shares of the company’s stock valued at $7,010,000 after buying an additional 9,716 shares in the last quarter. Bayesian Capital Management LP increased its position in shares of Procter & Gamble by 43.0% during the fourth quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock valued at $7,743,000 after buying an additional 15,900 shares during the period. Steele Capital Management Inc. bought a new stake in shares of Procter & Gamble during the 1st quarter worth $204,000. Finally, Gilbert & Cook Inc. raised its position in Procter & Gamble by 7.7% during the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock valued at $2,523,000 after purchasing an additional 1,237 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now owns 263,158 shares in the company, valued at $45,002,649.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on PG. Deutsche Bank Aktiengesellschaft increased their price objective on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their price objective on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.79.

Procter & Gamble Price Performance

Shares of PG opened at $174.08 on Monday. The firm has a 50 day moving average of $169.38 and a 200 day moving average of $165.24. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $177.94. The company has a market capitalization of $410.85 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 3.77 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. Procter & Gamble’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $1.37 EPS. As a group, equities research analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.31%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.