GSB Wealth Management LLC Has $631,000 Position in Colgate-Palmolive (NYSE:CL)

GSB Wealth Management LLC reduced its stake in Colgate-Palmolive (NYSE:CL) by 17.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,080 shares of the company’s stock after selling 1,326 shares during the period. GSB Wealth Management LLC’s holdings in Colgate-Palmolive were worth $631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Colgate-Palmolive in the second quarter valued at $25,000. Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Gradient Investments LLC boosted its position in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the period. Financial Connections Group Inc. bought a new stake in shares of Colgate-Palmolive in the second quarter valued at about $68,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Colgate-Palmolive in the second quarter valued at about $71,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $94.70 on Wednesday. The business has a 50 day moving average of $102.86 and a 200-day moving average of $98.19. Colgate-Palmolive has a 1 year low of $73.97 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The company has a market capitalization of $77.70 billion, a P/E ratio of 29.98, a P/E/G ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Citigroup upped their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI upped their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $105.11.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 in the last quarter. 0.34% of the stock is currently owned by company insiders.

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.