Cresset Asset Management LLC Sells 33,963 Shares of Haleon PLC Sponsored ADR $HLN

Key Points

• Cresset Asset Management LLC reduced its stake in Haleon PLC by 66.7%, selling 33,963 shares and now holds 16,934 shares valued at $174,000.
• Haleon has announced an increase in its semi-annual dividend to $0.0555 per share, up from the previous $0.05, yielding 190.0%.
• Analysts have set new price targets for Haleon, with Morgan Stanley upgrading its rating to "overweight" and setting a target price of $11.25.

Cresset Asset Management LLC lowered its stake in Haleon PLC Sponsored ADR (NYSE:HLN - Free Report) by 66.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,934 shares of the company's stock after selling 33,963 shares during the quarter. Cresset Asset Management LLC's holdings in Haleon were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Haleon by 8.8% during the 1st quarter. Farther Finance Advisors LLC now owns 12,861 shares of the company's stock valued at $131,000 after purchasing an additional 1,041 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Haleon by 5.4% during the 1st quarter. Apollon Wealth Management LLC now owns 21,722 shares of the company's stock valued at $224,000 after purchasing an additional 1,111 shares during the last quarter. Simplicity Wealth LLC increased its position in shares of Haleon by 7.9% during the 1st quarter. Simplicity Wealth LLC now owns 15,482 shares of the company's stock valued at $159,000 after purchasing an additional 1,135 shares during the last quarter. Holistic Financial Partners increased its position in shares of Haleon by 9.6% during the 1st quarter. Holistic Financial Partners now owns 13,379 shares of the company's stock valued at $138,000 after purchasing an additional 1,172 shares during the last quarter. Finally, AE Wealth Management LLC grew its position in Haleon by 6.5% during the 1st quarter. AE Wealth Management LLC now owns 19,323 shares of the company's stock worth $199,000 after acquiring an additional 1,186 shares during the last quarter. 6.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Haleon from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. BNP Paribas Exane upgraded Haleon from a "neutral" rating to an "outperform" rating and set a $13.40 price objective for the company in a report on Tuesday, May 27th. BNP Paribas upgraded Haleon to a "strong-buy" rating in a report on Tuesday, May 27th. Barclays reiterated an "overweight" rating on shares of Haleon in a report on Tuesday, May 6th. Finally, Morgan Stanley upgraded Haleon from an "equal weight" rating to an "overweight" rating and set a $11.25 price objective for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.33.

Haleon Stock Up 1.2%

Shares of HLN traded up $0.12 on Monday, reaching $9.81. The stock had a trading volume of 8,278,049 shares, compared to its average volume of 8,264,119. The company has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $10.21. The firm has a market capitalization of $43.96 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 2.89 and a beta of 0.23. Haleon PLC Sponsored ADR has a 12-month low of $8.86 and a 12-month high of $11.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.63 and a current ratio of 0.87.

Haleon Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.0555 per share. The ex-dividend date is Friday, August 15th. This is a positive change from Haleon's previous semi-annual dividend of $0.05. This represents a yield of 190.0%. Haleon's dividend payout ratio (DPR) is presently 28.21%.

About Haleon

Haleon plc, together with its subsidiaries, engages in the research, development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides oral health products, such as toothpastes, mouth washes, and denture care products under the Sensodyne, Polident, Parodontax, Biotene brands; and vitamins, minerals, and supplements under Centrum, Emergen-C, Caltrate brands.