Longer Investments Inc. raised its stake in Procter & Gamble Co (NYSE:PG) by 45.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,337 shares of the company’s stock after buying an additional 10,390 shares during the quarter. Procter & Gamble comprises about 2.5% of Longer Investments Inc.’s portfolio, making the stock its 14th biggest holding. Longer Investments Inc.’s holdings in Procter & Gamble were worth $2,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of PG. Berkshire Asset Management LLC PA lifted its position in shares of Procter & Gamble by 2.3% during the second quarter. Berkshire Asset Management LLC PA now owns 224,064 shares of the company’s stock worth $17,490,000 after purchasing an additional 5,053 shares in the last quarter. Univest Corp of Pennsylvania lifted its position in shares of Procter & Gamble by 12.1% during the second quarter. Univest Corp of Pennsylvania now owns 8,034 shares of the company’s stock worth $627,000 after purchasing an additional 864 shares in the last quarter. Alethea Capital Management LLC lifted its position in shares of Procter & Gamble by 20.0% during the second quarter. Alethea Capital Management LLC now owns 6,000 shares of the company’s stock worth $468,000 after purchasing an additional 1,000 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Procter & Gamble by 2.3% during the second quarter. Baillie Gifford & Co. now owns 368,841 shares of the company’s stock worth $28,792,000 after purchasing an additional 8,392 shares in the last quarter. Finally, Signature Wealth Management Group lifted its position in shares of Procter & Gamble by 2.0% during the second quarter. Signature Wealth Management Group now owns 35,233 shares of the company’s stock worth $2,750,000 after purchasing an additional 674 shares in the last quarter. 58.49% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on PG. Morgan Stanley reaffirmed a “hold” rating on shares of Procter & Gamble in a report on Monday, June 11th. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a report on Monday, July 9th. Deutsche Bank raised their target price on shares of Procter & Gamble from $84.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research cut shares of Procter & Gamble from a “hold” rating to a “sell” rating in a report on Monday, June 25th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Procter & Gamble in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $83.96.

In other Procter & Gamble news, insider Kathleen B. Fish sold 26,946 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $80.55, for a total value of $2,170,500.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Valarie L. Sheppard sold 27,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $80.66, for a total transaction of $2,177,820.00. The disclosure for this sale can be found here. Insiders sold 147,186 shares of company stock worth $12,080,849 over the last quarter. 1.84% of the stock is currently owned by insiders.

Shares of Procter & Gamble stock opened at $83.61 on Friday. The company has a market capitalization of $209.52 billion, a price-to-earnings 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. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.66 and a current ratio of 0.83.

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

About Procter & Gamble

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.

See Also: Moving Average – How it Helps Investors in Stock Selection

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

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.