Colgate-Palmolive (NYSE:CL) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc lessened its position in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 65.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,059 shares of the company’s stock after selling 7,590 shares during the period. AdvisorNet Financial Inc’s holdings in Colgate-Palmolive were worth $325,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Core Alternative Capital grew its position in shares of Colgate-Palmolive by 924.3% in the first quarter. Core Alternative Capital now owns 379 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares during the period. Carl Stuart Investment Advisor Inc. acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at about $30,000. Riverview Trust Co acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at about $38,000. US Asset Management LLC acquired a new position in Colgate-Palmolive during the first quarter worth about $39,000. Finally, Operose Advisors LLC boosted its position in Colgate-Palmolive by 340.7% during the first quarter. Operose Advisors LLC now owns 595 shares of the company’s stock worth $45,000 after acquiring an additional 460 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 51,665 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $81.27, for a total transaction of $4,198,814.55. Following the completion of the transaction, the chief executive officer now owns 221,790 shares in the company, valued at approximately $18,024,873.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Colgate-Palmolive news, insider Prabha Parameswaran sold 48,778 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $78.80, for a total transaction of $3,843,706.40. Following the completion of the transaction, the insider now owns 6,787 shares in the company, valued at approximately $534,815.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 51,665 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $81.27, for a total transaction of $4,198,814.55. Following the transaction, the chief executive officer now owns 221,790 shares of the company’s stock, valued at approximately $18,024,873.30. The disclosure for this sale can be found here. Insiders have sold a total of 125,802 shares of company stock valued at $10,100,532 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $76.01 on Tuesday. Colgate-Palmolive has a 1 year low of $72.20 and a 1 year high of $85.61. The company’s 50 day simple moving average is $79.10 and its 200-day simple moving average is $78.11. The company has a market capitalization of $63.40 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 5.42 and a beta of 0.48. The company has a debt-to-equity ratio of 14.26, a quick ratio of 0.72 and a current ratio of 1.17.

Colgate-Palmolive (NYSE:CLGet Rating) last announced its earnings results on Friday, July 29th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. Colgate-Palmolive had a net margin of 10.98% and a return on equity of 315.10%. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive will post 3.03 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s payout ratio is currently 81.39%.

Analyst Ratings Changes

CL has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Colgate-Palmolive to an “equal weight” rating in a research report on Tuesday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $79.00 to $78.00 in a research report on Thursday, July 21st. Barclays boosted their price target on shares of Colgate-Palmolive from $71.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 2nd. UBS Group boosted their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Colgate-Palmolive from $88.00 to $87.00 in a research note on Tuesday, July 19th. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.57.

About Colgate-Palmolive

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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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