Cornerstone Wealth Management LLC Purchases 2,393 Shares of The Procter & Gamble Company (NYSE:PG)

Cornerstone Wealth Management LLC grew its position in The Procter & Gamble Company (NYSE:PG) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,559 shares of the company’s stock after purchasing an additional 2,393 shares during the quarter. Procter & Gamble makes up about 1.2% of Cornerstone Wealth Management LLC’s portfolio, making the stock its 13th largest position. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $17,244,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Steele Capital Management Inc. acquired a new position in shares of Procter & Gamble during the 1st quarter valued at $204,000. GAMMA Investing LLC increased its position in Procter & Gamble by 67.2% in the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after buying an additional 10,777 shares in the last quarter. Consilio Wealth Advisors LLC raised its stake in Procter & Gamble by 27.7% during the 1st quarter. Consilio Wealth Advisors LLC now owns 1,746 shares of the company’s stock worth $283,000 after buying an additional 379 shares during the period. AMF Tjanstepension AB boosted its holdings in Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after acquiring an additional 1,466,115 shares in the last quarter. Finally, Talbot Financial LLC grew its stake in Procter & Gamble by 1.5% in the first quarter. Talbot Financial LLC now owns 65,600 shares of the company’s stock valued at $10,644,000 after acquiring an additional 950 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Down 0.7 %

Procter & Gamble stock opened at $172.36 on Thursday. The firm has a 50 day simple moving average of $171.72 and a 200 day simple moving average of $167.00. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94. The firm has a market capitalization of $406.78 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. On average, analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is 65.69%.

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. TD Cowen began coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price on the stock. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup lifted their price target on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.21.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. 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 can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 7,007 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the completion of the sale, the chief executive officer now directly owns 269,172 shares in the company, valued at $46,203,373.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is owned by company insiders.

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.