Meridian Wealth Management LLC Purchases Shares of 10,913 Colgate-Palmolive (NYSE:CL)

Meridian Wealth Management LLC acquired a new position in Colgate-Palmolive (NYSE:CL) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 10,913 shares of the company’s stock, valued at approximately $1,133,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Main Street Research LLC increased its holdings in shares of Colgate-Palmolive by 1.5% in the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after buying an additional 100 shares in the last quarter. Advisor OS LLC raised its position in shares of Colgate-Palmolive by 4.5% during the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after purchasing an additional 101 shares during the period. BLB&B Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 2.5% during the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after purchasing an additional 104 shares during the last quarter. D Orazio & Associates Inc. boosted its position in shares of Colgate-Palmolive by 3.9% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after purchasing an additional 108 shares during the period. Finally, ZWJ Investment Counsel Inc. increased its stake in Colgate-Palmolive by 3.1% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after purchasing an additional 109 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CL. Sanford C. Bernstein upped their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Barclays upped their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Finally, StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $94.92 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 12 month low of $75.50 and a 12 month high of $109.30. The company’s fifty day moving average is $98.10 and its 200-day moving average is $98.54. The firm has a market cap of $77.55 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.11%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.