Cornerstone Advisors LLC Acquires 9,000 Shares of The Procter & Gamble Company (NYSE:PG)

Cornerstone Advisors LLC boosted its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,100 shares of the company's stock after purchasing an additional 9,000 shares during the quarter. Procter & Gamble comprises approximately 0.9% of Cornerstone Advisors LLC's investment portfolio, making the stock its 26th biggest position. Cornerstone Advisors LLC's holdings in Procter & Gamble were worth $22,880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company's stock valued at $639,730,000 after acquiring an additional 3,674,286 shares during the period. Wulff Hansen & CO. grew its position in shares of Procter & Gamble by 16,292.0% in the second quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company's stock valued at $606,230,000 after purchasing an additional 3,653,477 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Procter & Gamble during the 3rd quarter worth approximately $301,950,000. AMF Tjanstepension AB boosted its stake in Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company's stock valued at $315,016,000 after purchasing an additional 1,466,115 shares during the period. Finally, Swedbank AB acquired a new position in Procter & Gamble in the 1st quarter valued at $233,788,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jon R. Moeller sold 87,979 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the sale, the chief executive officer now owns 300,777 shares of the company's stock, valued at $51,252,400.80. This trade represents a 22.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares of the company's stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,727 shares of company stock valued at $29,694,037. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PG shares. DZ Bank raised shares of Procter & Gamble from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an "overweight" rating in a report on Thursday, September 19th. Morgan Stanley raised their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. StockNews.com cut Procter & Gamble from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $177.00.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $170.92 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The firm has a market cap of $402.52 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 3.69 and a beta of 0.42. The firm's fifty day moving average is $170.01 and its 200-day moving average is $168.51.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. Sell-side analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

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

Procter & Gamble 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.

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