Allergan PLC. (AGN) Shares Bought by Gluskin Sheff & Assoc Inc.
Gluskin Sheff & Assoc Inc. increased its stake in shares of Allergan PLC. (NYSE:AGN) by 59.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,681 shares of the company’s stock after acquiring an additional 38,683 shares during the quarter. Allergan PLC. makes up about 2.3% of Gluskin Sheff & Assoc Inc.’s portfolio, making the stock its 18th largest position. Gluskin Sheff & Assoc Inc.’s holdings in Allergan PLC. were worth $25,204,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Pathstone Family Office LLC increased its holdings in shares of Allergan PLC. by 3,327.3% during the second quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock valued at $2,035,000 after acquiring an additional 366 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Allergan PLC. during the second quarter worth approximately $103,000. Jacobi Capital Management LLC raised its position in shares of Allergan PLC. by 4.9% during the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after purchasing an additional 22 shares during the period. JNBA Financial Advisors raised its position in shares of Allergan PLC. by 2.5% during the first quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock worth $116,000 after purchasing an additional 12 shares during the period. Finally, Pacific Center for Financial Services raised its position in shares of Allergan PLC. by 805.1% during the first quarter. Pacific Center for Financial Services now owns 534 shares of the company’s stock worth $128,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 82.03% of the company’s stock.
AGN has been the topic of a number of recent research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Allergan PLC. in a report on Monday. Barclays PLC restated an “equal weight” rating on shares of Allergan PLC. in a research note on Monday. UBS AG restated a “buy” rating and set a $275.00 price target on shares of Allergan PLC. in a research note on Tuesday, September 26th. Credit Suisse Group restated an “outperform” rating and set a $266.00 price objective (down previously from $286.00) on shares of Allergan PLC. in a report on Tuesday, September 26th. Finally, Mizuho restated a “buy” rating and set a $267.00 price objective on shares of Allergan PLC. in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $271.84.
Shares of Allergan PLC. (AGN) opened at 209.80 on Wednesday. The company has a market cap of $70.14 billion, a price-to-earnings ratio of 6.39 and a beta of 1.15. The firm has a 50-day moving average of $220.20 and a 200 day moving average of $233.72. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $256.80.
Allergan PLC. (NYSE:AGN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business earned $3.35 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, analysts expect that Allergan PLC. will post $16.22 earnings per share for the current year.
Allergan PLC. declared that its Board of Directors has authorized a share buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 1.33%. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.
Allergan PLC. Company Profile
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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