Meridian Wealth Management LLC Acquires New Position in Unilever PLC (NYSE:UL)

Meridian Wealth Management LLC acquired a new stake in Unilever PLC (NYSE:UL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,498 shares of the company’s stock, valued at approximately $3,410,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UL. ST Germain D J Co. Inc. raised its position in shares of Unilever by 423.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 529 shares of the company’s stock worth $29,000 after purchasing an additional 428 shares during the period. Abich Financial Wealth Management LLC raised its position in shares of Unilever by 393.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 533 shares of the company’s stock worth $29,000 after purchasing an additional 425 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Unilever during the 2nd quarter worth approximately $30,000. Webster Bank N. A. raised its position in shares of Unilever by 54.3% during the 2nd quarter. Webster Bank N. A. now owns 617 shares of the company’s stock worth $34,000 after purchasing an additional 217 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Unilever during the 3rd quarter worth approximately $35,000. 9.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on UL shares. Erste Group Bank reissued a “hold” rating on shares of Unilever in a report on Tuesday. StockNews.com lowered Unilever from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. UBS Group raised Unilever to a “strong sell” rating in a report on Tuesday, July 30th. Finally, Bank of America raised Unilever from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $72.00 in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.75.

Unilever Price Performance

UL opened at $58.61 on Friday. The business has a fifty day simple moving average of $61.86 and a 200-day simple moving average of $59.55. Unilever PLC has a fifty-two week low of $46.46 and a fifty-two week high of $65.87.

Unilever Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.4755 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from Unilever’s previous quarterly dividend of $0.35. This represents a $1.90 annualized dividend and a dividend yield of 3.25%.

About Unilever

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.