Cornerstone Advisors LLC Raises Position in The Procter & Gamble Company (NYSE:PG)

Cornerstone Advisors LLC boosted its stake in The Procter & Gamble Company (NYSE:PG) by 7.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,100 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Procter & Gamble makes up 0.9% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Cornerstone Advisors LLC’s holdings in Procter & Gamble were worth $22,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new position in Procter & Gamble in the 2nd quarter valued at $28,000. Fairway Wealth LLC bought a new position in Procter & Gamble during the second quarter valued at about $29,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble during the second quarter worth about $34,000. Quest Partners LLC bought a new stake in Procter & Gamble in the second quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Procter & Gamble in the second quarter valued at about $44,000. 65.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This trade represents a 12.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 174,727 shares of company stock valued at $29,694,037 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PG shares. JPMorgan Chase & Co. raised their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Evercore ISI boosted their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley increased their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $170.92 on Thursday. The business has a 50-day simple moving average of $170.01 and a 200 day simple moving average of $168.51. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The stock has a market cap of $402.52 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.69 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. On average, research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Procter & Gamble Company 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.