Formidable Asset Management LLC Lowers Stock Position in The Procter & Gamble Company (NYSE:PG)

Formidable Asset Management LLC decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 292,405 shares of the company's stock after selling 18,222 shares during the period. Procter & Gamble makes up about 8.1% of Formidable Asset Management LLC's holdings, making the stock its 2nd largest holding. Formidable Asset Management LLC's holdings in Procter & Gamble were worth $49,022,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble during the fourth quarter valued at $5,244,463,000. Raymond James Financial Inc. bought a new stake in Procter & Gamble during the fourth quarter worth about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock worth $580,596,000 after purchasing an additional 2,973,757 shares during the last quarter. Capital Research Global Investors lifted its stake in Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after purchasing an additional 2,846,560 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Up 1.1%

Shares of PG stock traded up $1.89 during midday trading on Tuesday, reaching $167.75. 11,416,704 shares of the stock were exchanged, compared to its average volume of 7,291,845. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company's 50 day moving average is $164.13 and its two-hundred day moving average is $167.34. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market cap of $393.30 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. On average, equities research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.52%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio is presently 66.98%.

Insider Buying and Selling

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction 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 sale, the insider now directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,520 shares of company stock worth $7,909,388 in the last 90 days. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PG shares. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Redburn Atlantic lowered Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a research note on Thursday, May 1st. Truist Financial dropped their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. Finally, Bank of America lowered their target price on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.