Longer Investments Inc. Increases Stake in Procter & Gamble Co (PG)

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Longer Investments Inc. lifted its holdings in shares of Procter & Gamble Co (NYSE:PG) by 45.3% during the second quarter, Holdings Channel reports. The fund owned 33,337 shares of the company’s stock after purchasing an additional 10,390 shares during the quarter. Procter & Gamble makes up 2.5% of Longer Investments Inc.’s holdings, making the stock its 14th largest position. Longer Investments Inc.’s holdings in Procter & Gamble were worth $2,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PG. Hutner Capital Management Inc. raised its stake in shares of Procter & Gamble by 0.9% during the 2nd quarter. Hutner Capital Management Inc. now owns 76,118 shares of the company’s stock worth $5,942,000 after buying an additional 645 shares during the last quarter. Signature Wealth Management Group raised its stake in shares of Procter & Gamble by 2.0% during the 2nd quarter. Signature Wealth Management Group now owns 35,233 shares of the company’s stock worth $2,750,000 after buying an additional 674 shares during the last quarter. Garland Capital Management Inc. raised its stake in shares of Procter & Gamble by 1.3% during the 2nd quarter. Garland Capital Management Inc. now owns 57,592 shares of the company’s stock worth $4,495,000 after buying an additional 730 shares during the last quarter. Wilkins Investment Counsel Inc. raised its stake in shares of Procter & Gamble by 0.6% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 117,454 shares of the company’s stock worth $9,312,000 after buying an additional 735 shares during the last quarter. Finally, Levin Capital Strategies L.P. raised its stake in shares of Procter & Gamble by 8.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 9,760 shares of the company’s stock worth $774,000 after buying an additional 735 shares during the last quarter. Institutional investors and hedge funds own 58.49% of the company’s stock.

Procter & Gamble stock opened at $83.61 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.83 and a quick ratio of 0.66. The stock has a market cap of $209.52 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.67 and a beta of 0.57. Procter & Gamble Co has a 52 week low of $70.73 and a 52 week high of $94.67.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $16.50 billion during the quarter, compared to analysts’ expectations of $16.52 billion. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. sell-side analysts forecast that Procter & Gamble Co will post 4.42 earnings per share for the current year.

In other Procter & Gamble news, SVP Valarie L. Sheppard sold 27,000 shares of Procter & Gamble stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.66, for a total value of $2,177,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen B. Fish sold 26,946 shares of Procter & Gamble stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $80.55, for a total value of $2,170,500.30. The disclosure for this sale can be found here. Insiders sold a total of 147,186 shares of company stock valued at $12,080,849 in the last 90 days. 1.84% of the stock is owned by company insiders.

PG has been the subject of several research reports. Morgan Stanley reaffirmed a “hold” rating on shares of Procter & Gamble in a research note on Monday, June 11th. Zacks Investment Research downgraded Procter & Gamble from a “hold” rating to a “sell” rating in a research note on Monday, June 25th. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a research note on Monday, July 9th. UBS Group downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Wednesday, July 18th. Finally, Citigroup dropped their price objective on Procter & Gamble from $98.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Procter & Gamble currently has a consensus rating of “Hold” and a consensus target price of $83.96.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

Further Reading: What is a Leveraged Buyout (LBO)?

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Co (NYSE:PG).

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

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