Parallel Advisors LLC Sells 832 Shares of Unilever PLC (NYSE:UL)

Parallel Advisors LLC trimmed its stake in shares of Unilever PLC (NYSE:UL) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 21,813 shares of the company’s stock after selling 832 shares during the quarter. Parallel Advisors LLC’s holdings in Unilever were worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of UL. Norges Bank bought a new position in Unilever during the 4th quarter worth approximately $151,263,000. Dynamic Technology Lab Private Ltd bought a new position in Unilever during the 4th quarter worth approximately $771,000. UBS Group AG grew its position in Unilever by 3.9% during the 4th quarter. UBS Group AG now owns 717,107 shares of the company’s stock worth $34,765,000 after acquiring an additional 26,848 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in Unilever by 9.1% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,522 shares of the company’s stock worth $316,000 after acquiring an additional 542 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in Unilever in the 4th quarter worth approximately $541,000. 9.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on UL shares. JPMorgan Chase & Co. upgraded Unilever from an “underweight” rating to an “overweight” rating in a report on Thursday, May 23rd. StockNews.com upgraded Unilever from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Bank of America upgraded 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. UBS Group upgraded Unilever to a “strong sell” rating in a report on Tuesday, July 30th. Finally, TD Cowen started coverage on Unilever in a report on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price objective for the company. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.75.

Unilever Stock Performance

UL opened at $65.06 on Monday. The business has a 50 day moving average of $61.26 and a 200-day moving average of $55.25. Unilever PLC has a 52 week low of $46.16 and a 52 week high of $65.86.

Unilever Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were paid a $0.4773 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Unilever’s previous quarterly dividend of $0.46.

Unilever Company Profile

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.