Douglas Lane & Associates LLC Sells 431,269 Shares of Haleon PLC Sponsored ADR $HLN

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Haleon PLC by 5.0%, selling 431,269 shares, and now holds 8,177,824 shares, constituting 1.2% of its investment portfolio.
• Haleon recently declared a semi-annual dividend of $0.0555 per share, marking an increase from its previous dividend of $0.05.
• The stock has received mixed ratings from analysts, with BNP Paribas upgrading it to a "strong-buy" while others downgraded it, resulting in an average rating of "Moderate Buy."

Douglas Lane & Associates LLC reduced its position in Haleon PLC Sponsored ADR (NYSE:HLN - Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,177,824 shares of the company's stock after selling 431,269 shares during the quarter. Haleon makes up about 1.2% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 21st largest holding. Douglas Lane & Associates LLC owned approximately 0.18% of Haleon worth $84,804,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HLN. Bartlett & CO. Wealth Management LLC boosted its position in shares of Haleon by 135.9% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 2,588 shares of the company's stock worth $27,000 after purchasing an additional 1,491 shares during the period. Banque Transatlantique SA bought a new position in shares of Haleon in the first quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Haleon in the first quarter worth approximately $29,000. Ransom Advisory Ltd bought a new position in shares of Haleon in the first quarter worth approximately $31,000. Finally, Deutsche Bank AG boosted its position in shares of Haleon by 267.8% in the first quarter. Deutsche Bank AG now owns 3,126 shares of the company's stock worth $32,000 after purchasing an additional 2,276 shares during the period. 6.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HLN has been the subject of a number of recent analyst reports. BNP Paribas upgraded shares of Haleon to a "strong-buy" rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of Haleon from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. BNP Paribas Exane raised shares of Haleon from a "neutral" rating to an "outperform" rating and set a $13.40 target price on the stock in a report on Tuesday, May 27th. Finally, The Goldman Sachs Group raised shares of Haleon from a "neutral" rating to a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.33.

Haleon Price Performance

Haleon stock opened at $9.81 on Friday. The company has a market cap of $43.91 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 2.91 and a beta of 0.24. The firm's fifty day moving average is $9.73 and its 200 day moving average is $10.20. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.48. Haleon PLC Sponsored ADR has a 52-week low of $8.86 and a 52-week high of $11.42.

Haleon Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 15th will be paid a dividend of $0.0555 per share. The ex-dividend date of this dividend 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 payout ratio is currently 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.

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