Allergan plc (AGN) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. trimmed its position in shares of Allergan plc (NYSE:AGN) by 18.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 94,875 shares of the company’s stock after selling 20,880 shares during the quarter. Sit Investment Associates Inc.’s holdings in Allergan were worth $15,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGN. Howard Hughes Medical Institute purchased a new stake in shares of Allergan in the 2nd quarter worth $103,000. Cable Hill Partners LLC increased its stake in shares of Allergan by 255.2% in the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after purchasing an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. increased its stake in shares of Allergan by 283.7% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after purchasing an additional 400 shares in the last quarter. Massey Quick & Co. LLC increased its stake in shares of Allergan by 334.8% in the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after purchasing an additional 385 shares in the last quarter. Finally, Pacific Center for Financial Services increased its stake in shares of Allergan by 1.3% in the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after purchasing an additional 7 shares in the last quarter. 81.14% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on AGN. Vetr lowered Allergan from a “buy” rating to a “hold” rating and set a $180.97 price objective for the company. in a research note on Wednesday. Deutsche Bank reiterated a “buy” rating and issued a $215.00 price target on shares of Allergan in a research note on Tuesday. Citigroup cut their price target on Allergan to $215.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Co set a $245.00 price target on Allergan and gave the stock a “buy” rating in a research note on Friday, January 5th. Finally, Royal Bank of Canada set a $218.00 price objective on Allergan and gave the company a “buy” rating in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Allergan presently has an average rating of “Hold” and an average target price of $227.22.
Allergan (NYSE:AGN) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.32 earnings per share. equities analysts forecast that Allergan plc will post 16.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is presently -12.39%.
Allergan declared that its Board of Directors has initiated a stock buyback plan on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Allergan news, Director Chris W. Bodine acquired 3,030 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $164.77 per share, with a total value of $499,253.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 17,630 shares of company stock worth $2,890,057. Corporate insiders own 0.36% of the company’s stock.
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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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