Cornerstone Wealth Management LLC Has $14.46 Million Stake in The Procter & Gamble Company (NYSE:PG)

Cornerstone Wealth Management LLC decreased its position in The Procter & Gamble Company (NYSE:PGFree Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,643 shares of the company’s stock after selling 3,750 shares during the quarter. Procter & Gamble accounts for approximately 1.2% of Cornerstone Wealth Management LLC’s holdings, making the stock its 12th largest holding. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $14,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wyrmwood Management LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at about $29,000. Itau Unibanco Holding S.A. bought a new position in Procter & Gamble during the second quarter worth about $50,000. CGC Financial Services LLC bought a new position in Procter & Gamble during the second quarter worth about $55,000. VitalStone Financial LLC bought a new position in Procter & Gamble during the second quarter worth about $60,000. Finally, RVW Wealth LLC bought a new position in Procter & Gamble during the third quarter worth about $77,000. Institutional investors and hedge funds own 63.43% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $161.38 on Monday. The stock has a market capitalization of $379.73 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The company’s 50-day moving average is $156.57 and its 200-day moving average is $151.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $162.73.

Procter & Gamble (NYSE:PGGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.14. The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.48 billion. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. Equities research analysts expect that The Procter & Gamble Company will post 6.45 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, January 19th were issued a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.33%. Procter & Gamble’s dividend payout ratio is presently 62.98%.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price objective on Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. UBS Group boosted their price objective on shares of Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the company from $160.00 to $175.00 in a research report on Monday, March 11th. Barclays boosted their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Procter & Gamble in a research report on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.41.

Check Out Our Latest Report on PG

Insider Buying and Selling

In related news, CEO R. Alexandra Keith sold 776 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $158.11, for a total value of $122,693.36. Following the sale, the chief executive officer now owns 4,859 shares in the company, valued at approximately $768,256.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the transaction, the insider now owns 163,428 shares of the company’s stock, valued at approximately $25,097,637.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $158.11, for a total transaction of $122,693.36. Following the completion of the sale, the chief executive officer now directly owns 4,859 shares in the company, valued at approximately $768,256.49. The disclosure for this sale can be found here. Insiders have sold 279,063 shares of company stock worth $43,187,745 in the last quarter. Insiders own 0.17% of the company’s stock.

About Procter & Gamble

(Free Report)

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.

Further Reading

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

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