The Procter & Gamble Company (NYSE:PG) Shares Bought by Cornerstone Wealth Group LLC

Posted by Defense World Staff on Apr 7th, 2023

Cornerstone Wealth Group LLC raised its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,412 shares of the company’s stock after purchasing an additional 975 shares during the period. Procter & Gamble comprises approximately 1.3% of Cornerstone Wealth Group LLC’s holdings, making the stock its 18th largest holding. Cornerstone Wealth Group LLC’s holdings in Procter & Gamble were worth $6,883,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. EWG Elevate Inc. bought a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $26,000. Legend Financial Advisors Inc. bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $30,000. Bourgeon Capital Management LLC increased its holdings in shares of Procter & Gamble by 39.9% in the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after acquiring an additional 71 shares during the last quarter. Horizons Wealth Management bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $52,000. Finally, Belmont Capital LLC increased its holdings in shares of Procter & Gamble by 40.0% in the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock valued at $49,000 after acquiring an additional 110 shares during the last quarter. 62.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Susan Street Whaley sold 435 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $141.82, for a total value of $61,691.70. Following the completion of the sale, the insider now owns 10,840 shares in the company, valued at $1,537,328.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Andre Schulten sold 1,311 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $180,052.74. Following the completion of the sale, the chief financial officer now directly owns 35,142 shares of the company’s stock, valued at $4,826,402.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Susan Street Whaley sold 435 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $141.82, for a total value of $61,691.70. Following the sale, the insider now directly owns 10,840 shares of the company’s stock, valued at $1,537,328.80. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock worth $656,511 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $150.00 to $155.00 in a research note on Friday, March 3rd. Citigroup assumed coverage on Procter & Gamble in a research note on Thursday, February 16th. They set a “buy” rating and a $160.00 price objective for the company. UBS Group upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $157.00 to $163.00 in a research note on Wednesday, March 1st. Stifel Nicolaus upped their price objective on Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, January 20th. Finally, Raymond James upped their price objective on Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 13th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $155.27.

Procter & Gamble Trading Up 0.6 %

Shares of PG stock opened at $152.22 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56. The firm has a market capitalization of $359.11 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.19 and a beta of 0.41. The stock has a fifty day moving average of $141.89 and a two-hundred day moving average of $141.51. The Procter & Gamble Company has a 1 year low of $122.18 and a 1 year high of $164.90.

Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.01. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 earnings per share. As a group, research analysts expect that The Procter & Gamble Company will post 5.84 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were issued a $0.9133 dividend. The ex-dividend date of this dividend was Thursday, January 19th. This represents a $3.65 annualized dividend and a dividend yield of 2.40%. Procter & Gamble’s dividend payout ratio (DPR) is 64.04%.

Procter & Gamble Profile

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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.