Bank of America Corp DE Acquires 1,586,230 Shares of Haleon PLC Sponsored ADR $HLN

Key Points

• Bank of America increased its Haleon stake by 17% in the first quarter, acquiring 1.59 million additional shares and bringing its holdings to 10.93 million shares valued at approximately $109.5 million.
• Several other institutional investors also expanded their positions, including Natixis Advisors, Arrowstreet Capital and Bank of Montreal; institutional investors collectively own 6.67% of Haleon.
• Analyst sentiment is mixed but averages to a “Moderate Buy” rating. Haleon shares opened at $10.03, within a 52-week range of $8.65 to $11.28, while the company announced a $0.0642 per-share dividend.

Bank of America Corp DE raised its stake in Haleon PLC Sponsored ADR (NYSE:HLN - Free Report) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,934,228 shares of the company's stock after buying an additional 1,586,230 shares during the quarter. Bank of America Corp DE owned 0.25% of Haleon worth $109,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Haleon during the fourth quarter worth about $163,529,000. Natixis Advisors LLC lifted its position in Haleon by 429.8% in the 4th quarter. Natixis Advisors LLC now owns 10,003,941 shares of the company's stock valued at $101,140,000 after acquiring an additional 8,115,633 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Haleon by 4,315.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,027,189 shares of the company's stock valued at $81,155,000 after acquiring an additional 7,845,391 shares in the last quarter. Bank of Montreal Can boosted its stake in Haleon by 454.1% in the 4th quarter. Bank of Montreal Can now owns 8,500,496 shares of the company's stock worth $85,940,000 after purchasing an additional 6,966,416 shares during the period. Finally, Morgan Stanley boosted its position in Haleon by 16.0% during the 4th quarter. Morgan Stanley now owns 21,495,383 shares of the company's stock worth $217,318,000 after acquiring an additional 2,962,856 shares during the last quarter. Institutional investors and hedge funds own 6.67% of the company's stock.

Analyst Upgrades and Downgrades

HLN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Haleon in a report on Thursday, April 30th. Wall Street Zen upgraded Haleon from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Rothschild & Co Redburn downgraded Haleon from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. Zacks Research cut Haleon from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley restated an "overweight" rating on shares of Haleon in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Haleon Trading Down 0.0%

HLN stock opened at $10.03 on Friday. Haleon PLC Sponsored ADR has a 52 week low of $8.65 and a 52 week high of $11.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.52 and a current ratio of 0.69. The company's 50-day simple moving average is $9.51 and its 200 day simple moving average is $9.85. The company has a market capitalization of $44.16 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.01 and a beta of 0.12.

Haleon Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, August 14th will be issued a $0.0642 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a yield of 127.0%. Haleon's payout ratio is currently 64.10%.

About Haleon

Haleon plc NYSE: HLN is a global consumer healthcare company formed through the separation of a large pharmaceutical group's consumer health business in 2022. Headquartered in the United Kingdom, Haleon develops, manufactures and markets a broad portfolio of over‑the‑counter medicines, oral health products, vitamins, minerals and supplements, and other consumer health goods designed for daily self‑care and symptom relief.

The company’s product mix spans categories such as oral care (toothpastes and sensitivity treatments), pain relief and analgesics, respiratory remedies, digestive health products, topical treatments and nutritional supplements.

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