Avidian Wealth Solutions LLC Grows Stock Position in Colgate-Palmolive (NYSE:CL)

Avidian Wealth Solutions LLC lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,202 shares of the company’s stock after acquiring an additional 219 shares during the period. Avidian Wealth Solutions LLC’s holdings in Colgate-Palmolive were worth $733,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its position in Colgate-Palmolive by 19.1% during the 4th quarter. National Bank of Canada FI now owns 1,479,508 shares of the company’s stock worth $119,425,000 after buying an additional 236,862 shares during the last quarter. TCG Advisory Services LLC lifted its position in Colgate-Palmolive by 72.8% during the fourth quarter. TCG Advisory Services LLC now owns 7,448 shares of the company’s stock valued at $594,000 after purchasing an additional 3,137 shares during the period. First National Trust Co boosted its holdings in Colgate-Palmolive by 3.1% in the fourth quarter. First National Trust Co now owns 5,505 shares of the company’s stock valued at $439,000 after purchasing an additional 165 shares during the last quarter. AJOVista LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth about $58,000. Finally, Sapient Capital LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $781,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity

In other news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction on Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the transaction, the chief executive officer now owns 274,179 shares in the company, valued at approximately $22,797,983.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the sale, the chief executive officer now owns 274,179 shares of the company’s stock, valued at approximately $22,797,983.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Noel R. Wallace sold 69,948 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the transaction, the chief executive officer now owns 286,881 shares of the company’s stock, valued at $24,161,117.82. The disclosure for this sale can be found here. Insiders sold 159,048 shares of company stock worth $13,336,846 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CL. StockNews.com lowered Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. The Goldman Sachs Group began coverage on shares of Colgate-Palmolive in a research note on Friday, March 1st. They issued a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Finally, Stifel Nicolaus upped their price objective on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.44.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $0.06 during midday trading on Monday, hitting $92.94. The stock had a trading volume of 1,453,648 shares, compared to its average volume of 4,653,061. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The stock has a 50 day simple moving average of $88.35 and a 200-day simple moving average of $82.35. The company has a market capitalization of $76.25 billion, a PE ratio of 29.39, a P/E/G ratio of 3.43 and a beta of 0.40. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $93.25.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. On average, sell-side analysts expect that Colgate-Palmolive will post 3.52 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Colgate-Palmolive Company Profile

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.