Cornerstone Advisors LLC Purchases 48,900 Shares of The Procter & Gamble Company (NYSE:PG)

Cornerstone Advisors LLC grew its holdings in shares of The Procter & Gamble Company (NYSE:PGFree Report) by 60.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,700 shares of the company’s stock after buying an additional 48,900 shares during the quarter. Procter & Gamble accounts for about 0.9% of Cornerstone Advisors LLC’s holdings, making the stock its 23rd biggest position. Cornerstone Advisors LLC’s holdings in Procter & Gamble were worth $18,918,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PG. Moneta Group Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 96,526.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after purchasing an additional 38,495,676 shares in the last quarter. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $3,752,321,000. Morgan Stanley grew its stake in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after purchasing an additional 4,959,527 shares during the period. Fisher Asset Management LLC lifted its position in Procter & Gamble by 742.9% during the 2nd quarter. Fisher Asset Management LLC now owns 4,862,949 shares of the company’s stock valued at $737,904,000 after acquiring an additional 4,285,986 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Procter & Gamble in the 2nd quarter worth approximately $685,677,000. Institutional investors own 63.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PG. Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Raymond James boosted their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Barclays raised their target price on Procter & Gamble from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. DZ Bank upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating and set a $155.00 price objective on the stock in a research note on Friday, October 20th. Finally, JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus price target of $167.06.

View Our Latest Research Report on Procter & Gamble

Procter & Gamble Price Performance

Procter & Gamble stock traded down $0.23 during midday trading on Monday, reaching $157.19. The company’s stock had a trading volume of 2,057,537 shares, compared to its average volume of 7,978,003. The firm has a market capitalization of $369.87 billion, a PE ratio of 26.37, a P/E/G ratio of 3.21 and a beta of 0.45. 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 Procter & Gamble Company has a fifty-two week low of $136.10 and a fifty-two week high of $159.83. The stock’s 50 day simple moving average is $150.04 and its 200 day simple moving average is $150.86.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 19th will be issued a $0.9407 dividend. This represents a $3.76 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is 62.98%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,275 shares of Procter & Gamble stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $154.90, for a total value of $4,844,497.50. Following the completion of the sale, the chief operating officer now owns 9,623 shares in the company, valued at approximately $1,490,602.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Shailesh Jejurikar sold 31,275 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $154.90, for a total transaction of $4,844,497.50. Following the completion of the sale, the chief operating officer now owns 9,623 shares in the company, valued at approximately $1,490,602.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ma. Fatima Francisco sold 74,443 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $153.30, for a total value of $11,412,111.90. Following the sale, the chief executive officer now owns 973 shares of the company’s stock, valued at approximately $149,160.90. The disclosure for this sale can be found here. Insiders sold 278,658 shares of company stock worth $42,921,732 in the last 90 days. 0.17% of the stock is owned by company insiders.

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.

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

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