Montag A & Associates Inc. lowered its position in shares of Allergan plc (NYSE:AGN) by 35.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,973 shares of the company’s stock after selling 2,171 shares during the period. Montag A & Associates Inc.’s holdings in Allergan were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in Allergan by 175.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 251 shares of the company’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Allergan by 160.4% in the 1st quarter. Moors & Cabot Inc. now owns 21,468 shares of the company’s stock worth $3,152,000 after acquiring an additional 13,225 shares in the last quarter. Rikoon Group LLC raised its position in shares of Allergan by 32.0% in the 1st quarter. Rikoon Group LLC now owns 2,521 shares of the company’s stock worth $369,000 after acquiring an additional 611 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Allergan in the 1st quarter worth about $973,000. Finally, Intermede Investment Partners Ltd grew its stake in shares of Allergan by 13.7% in the 1st quarter. Intermede Investment Partners Ltd now owns 425,529 shares of the company’s stock valued at $62,302,000 after buying an additional 51,349 shares during the period. Institutional investors own 80.31% of the company’s stock.
In other news, Chairman Brent L. Saunders purchased 1,760 shares of Allergan stock in a transaction dated Thursday, March 7th. The stock was purchased at an average cost of $143.67 per share, for a total transaction of $252,859.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.
Several analysts have recently commented on AGN shares. Bank of America set a $197.00 target price on Allergan and gave the company a “buy” rating in a research note on Thursday, March 7th. Jefferies Financial Group started coverage on Allergan in a research note on Monday, April 15th. They set a “hold” rating and a $144.95 price target for the company. Morgan Stanley downgraded Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 price target for the company. in a research note on Wednesday, January 30th. Leerink Swann set a $217.00 price target on Allergan and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, SunTrust Banks assumed coverage on Allergan in a research note on Tuesday, March 19th. They set a “buy” rating and a $178.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $183.00.
AGN stock traded down $5.74 during midday trading on Wednesday, reaching $125.67. 8,359,621 shares of the company’s stock traded hands, compared to its average volume of 2,189,674. The stock has a market capitalization of $44.42 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 1.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.60. Allergan plc has a 52 week low of $125.84 and a 52 week high of $197.00.
Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.55 by $0.24. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.74 EPS. Equities research analysts anticipate that Allergan plc will post 16.68 EPS for the current year.
Allergan declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, May 13th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.36%. Allergan’s dividend payout ratio (DPR) is currently 17.74%.
Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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