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

Cornerstone Wealth Management LLC reduced its position in The Procter & Gamble Company (NYSE:PGFree Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F 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 period. Procter & Gamble comprises about 1.2% of Cornerstone Wealth Management LLC’s portfolio, making the stock its 12th biggest holding. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $14,455,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wyrmwood Management LLC acquired a new position in Procter & Gamble during the fourth quarter worth $29,000. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble during the second quarter worth $50,000. CGC Financial Services LLC acquired a new position in Procter & Gamble during the second quarter worth $55,000. VitalStone Financial LLC acquired a new position in Procter & Gamble during the second quarter worth $60,000. Finally, RVW Wealth LLC acquired a new position in Procter & Gamble during the third quarter worth $77,000. 63.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Marc S. Pritchard sold 101,704 shares of the firm’s 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 directly owns 163,428 shares in the company, valued at $25,097,637.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Marc S. Pritchard sold 101,704 shares of Procter & Gamble stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the transaction, the insider now directly owns 163,428 shares in the company, valued at approximately $25,097,637.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Street Whaley sold 3,865 shares of Procter & Gamble stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the transaction, the insider now owns 11,886 shares in the company, valued at $1,908,891.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is owned by corporate insiders.

Procter & Gamble Stock Down 0.1 %

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

Procter & Gamble (NYSE:PGGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.14. The firm 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 firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 earnings per share. Analysts forecast that The Procter & Gamble Company will post 6.45 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PG shares. Royal Bank of Canada increased their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 24th. UBS Group increased their target price 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 increased their target price for the company from $160.00 to $175.00 in a research report on Monday, March 11th. The Goldman Sachs Group started coverage on shares of Procter & Gamble in a report on Friday, March 1st. They issued a “neutral” rating and a $168.00 price objective for the company. Finally, Barclays upped their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $168.41.

Read Our Latest Stock Analysis on PG

Procter & Gamble Profile

(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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