Cornerstone Wealth Management LLC Buys 699 Shares of Colgate-Palmolive (NYSE:CL)

Cornerstone Wealth Management LLC increased its stake in Colgate-Palmolive (NYSE:CL) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,925 shares of the company’s stock after purchasing an additional 699 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Colgate-Palmolive were worth $811,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the period. Montecito Bank & Trust raised its stake in Colgate-Palmolive by 9.0% in the 4th quarter. Montecito Bank & Trust now owns 12,320 shares of the company’s stock valued at $1,120,000 after acquiring an additional 1,018 shares during the period. Apeiron RIA LLC lifted its holdings in Colgate-Palmolive by 5.1% during the fourth quarter. Apeiron RIA LLC now owns 7,745 shares of the company’s stock valued at $704,000 after purchasing an additional 379 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Colgate-Palmolive during the fourth quarter worth about $291,000. Finally, Wesbanco Bank Inc. increased its stake in shares of Colgate-Palmolive by 1.7% in the fourth quarter. Wesbanco Bank Inc. now owns 15,066 shares of the company’s stock worth $1,370,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.0 %

CL opened at $87.88 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. The business’s fifty day simple moving average is $91.81 and its 200 day simple moving average is $97.44. Colgate-Palmolive has a 52 week low of $80.03 and a 52 week high of $109.30. The stock has a market cap of $71.79 billion, a PE ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 0.44.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.28%. Colgate-Palmolive’s payout ratio is 57.31%.

Insiders Place Their Bets

In other Colgate-Palmolive 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 transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CL. Barclays dropped their price target on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. UBS Group dropped their target price on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price target on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen cut their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive 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.