The Procter & Gamble Company (NYSE:PG) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,091 shares of the company’s stock after selling 2,552 shares during the period. Procter & Gamble makes up approximately 1.3% of Cornerstone Wealth Management LLC’s holdings, making the stock its 14th largest position. Cornerstone Wealth Management LLC’s holdings in Procter & Gamble were worth $15,591,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advantage Trust Co purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $28,000. Wyrmwood Management LLC purchased a new position in shares of Procter & Gamble during the 4th quarter worth approximately $29,000. Naples Money Management LLC acquired a new position in Procter & Gamble during the fourth quarter worth $29,000. Transcendent Capital Group LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at $31,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the transaction, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock valued at $25,413,051 over the last quarter. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PG. BNP Paribas started coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective on the stock. Barclays boosted their price target on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Argus boosted their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $170.72.

Procter & Gamble Stock Performance

NYSE:PG opened at $163.83 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The firm has a market cap of $386.66 billion, a PE ratio of 26.77, a P/E/G ratio of 3.13 and a beta of 0.41. The firm has a 50 day simple moving average of $165.72 and a 200-day simple moving average of $159.19. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $169.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.46%. Procter & Gamble’s dividend payout ratio is 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.