Formidable Asset Management LLC Sells 18,222 Shares of The Procter & Gamble Company (NYSE:PG)

Formidable Asset Management LLC lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 5.9% during the fourth quarter, Holdings Channel reports. The fund owned 292,405 shares of the company’s stock after selling 18,222 shares during the quarter. Procter & Gamble comprises 8.1% of Formidable Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Formidable Asset Management LLC’s holdings in Procter & Gamble were worth $49,022,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PG. NewSquare Capital LLC lifted its position in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares during the period. Navigoe LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $31,000. Hoey Investments Inc. lifted its position in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in Procter & Gamble during the fourth quarter worth about $34,000. Finally, 10Elms LLP purchased a new position in Procter & Gamble during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $165.95 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The firm has a market cap of $389.07 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The stock has a 50-day simple moving average of $164.19 and a 200-day simple moving average of $167.29.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same quarter last year, the firm earned $1.52 EPS. Procter & Gamble’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio (DPR) is 66.98%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares of the company’s stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,520 shares of company stock worth $10,999,268 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial cut their price objective on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective on the stock. in a report on Thursday, May 1st. Piper Sandler raised their price objective on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.52.

About Procter & Gamble

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