Frank Rimerman Advisors LLC Makes New $314,000 Investment in Haleon plc (NYSE:HLN)

Frank Rimerman Advisors LLC bought a new stake in Haleon plc (NYSE:HLN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 38,061 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds have also modified their holdings of the business. Clearbridge Investments LLC grew its stake in Haleon by 44.6% during the 1st quarter. Clearbridge Investments LLC now owns 38,446,978 shares of the company’s stock valued at $326,415,000 after acquiring an additional 11,865,076 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Haleon by 164.6% in the fourth quarter. Wellington Management Group LLP now owns 13,542,346 shares of the company’s stock valued at $111,454,000 after purchasing an additional 8,423,475 shares in the last quarter. Martin Investment Management LLC increased its holdings in shares of Haleon by 12,018.4% in the first quarter. Martin Investment Management LLC now owns 4,463,205 shares of the company’s stock valued at $37,893,000 after purchasing an additional 4,426,375 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Haleon by 19.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,813,997 shares of the company’s stock worth $39,619,000 after buying an additional 772,829 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Haleon by 30.7% during the first quarter. Van ECK Associates Corp now owns 2,971,084 shares of the company’s stock worth $25,225,000 after buying an additional 698,254 shares during the last quarter. 6.67% of the stock is currently owned by institutional investors and hedge funds.

Haleon Stock Performance

Shares of Haleon stock opened at $10.67 on Wednesday. The firm has a market cap of $48.72 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 3.10 and a beta of 0.26. The company has a quick ratio of 0.58, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Haleon plc has a 52 week low of $7.70 and a 52 week high of $10.76. The business’s fifty day simple moving average is $9.84 and its 200-day simple moving average is $8.91.

Haleon (NYSE:HLN) last posted its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Haleon had a net margin of 9.71% and a return on equity of 13.15%. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the company earned $0.08 EPS. Equities analysts forecast that Haleon plc will post 0.46 earnings per share for the current year.

Haleon Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 16th were issued a $0.0514 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 1.6%. Haleon’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

HLN has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded Haleon from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley raised their price objective on shares of Haleon from $9.90 to $10.95 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Berenberg Bank began coverage on shares of Haleon in a research note on Tuesday, August 6th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Haleon has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Haleon Profile

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.