Allergan plc (AGN) Shares Sold by Griffin Asset Management Inc.
Griffin Asset Management Inc. lessened its holdings in Allergan plc (NYSE:AGN) by 72.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,275 shares of the company’s stock after selling 3,385 shares during the period. Griffin Asset Management Inc.’s holdings in Allergan were worth $209,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Avestar Capital LLC purchased a new position in Allergan in the 4th quarter valued at approximately $113,000. Focused Wealth Management Inc boosted its position in Allergan by 4,444.4% in the 4th quarter. Focused Wealth Management Inc now owns 818 shares of the company’s stock valued at $134,000 after buying an additional 800 shares during the period. BB&T Investment Services Inc. boosted its position in Allergan by 1,308.2% in the 3rd quarter. BB&T Investment Services Inc. now owns 690 shares of the company’s stock valued at $139,000 after buying an additional 641 shares during the period. Acropolis Investment Management LLC purchased a new position in Allergan in the 4th quarter valued at approximately $153,000. Finally, Field & Main Bank purchased a new position in Allergan in the 4th quarter valued at approximately $155,000. 77.96% of the stock is owned by institutional investors.
In related news, CEO Brent L. Saunders purchased 3,300 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were purchased at an average cost of $152.53 per share, for a total transaction of $503,349.00. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph H. Boccuzi purchased 900 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average price of $143.42 per share, for a total transaction of $129,078.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,095 shares of company stock worth $1,258,081 over the last quarter. 0.36% of the stock is owned by company insiders.
Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $4.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.74 by $0.12. Allergan had a negative net margin of 26.32% and a positive return on equity of 8.43%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the business earned $3.90 EPS. Allergan’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts predict that Allergan plc will post 15.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.72 per share. This is a positive change from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, February 27th. Allergan’s dividend payout ratio (DPR) is currently -21.46%.
AGN has been the subject of several recent research reports. Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. TheStreet cut shares of Allergan from a “c-” rating to a “d+” rating in a research report on Monday, December 4th. Morgan Stanley set a $200.00 price target on shares of Allergan and gave the company a “buy” rating in a research report on Wednesday, December 6th. Deutsche Bank restated a “buy” rating and issued a $215.00 price objective on shares of Allergan in a report on Tuesday, January 9th. Finally, Vetr upgraded shares of Allergan from a “sell” rating to a “hold” rating and set a $189.60 price objective on the stock in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $224.02.
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Allergan 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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