Cornerstone Wealth Management LLC Has $16.95 Million Stake in Procter & Gamble Company (The) (NYSE:PG)

Cornerstone Wealth Management LLC cut its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,460 shares of the company’s stock after selling 1,325 shares during the quarter. Procter & Gamble accounts for about 1.1% of Cornerstone Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $16,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PG. NewSquare Capital LLC boosted its stake in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC purchased a new position in shares of Procter & Gamble in the fourth quarter worth $31,000. Capital A Wealth Management LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $31,000. Hoey Investments Inc. boosted its position in Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new stake in Procter & Gamble in the 4th quarter worth $34,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of PG stock opened at $158.53 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $163.73 and its 200-day moving average price is $166.46. The stock has a market cap of $371.67 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 4.74 and a beta of 0.43. Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The business had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio (DPR) is 67.14%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PG. Bank of America decreased their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Barclays restated an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Redburn Atlantic lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target for the company. in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Redburn Partners set a $161.00 target price on Procter & Gamble in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.86.

About Procter & Gamble

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.