Global Endowment Management LP Has $3.32 Million Position in Allergan PLC. (AGN)
Global Endowment Management LP increased its holdings in Allergan PLC. (NYSE:AGN) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,640 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Global Endowment Management LP’s holdings in Allergan PLC. were worth $3,316,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of AGN. Veritas Asset Management LLP bought a new stake in shares of Allergan PLC. in the first quarter worth $761,339,000. Iridian Asset Management LLC CT grew its stake in shares of Allergan PLC. by 141.3% in the first quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock worth $306,733,000 after purchasing an additional 751,848 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Allergan PLC. in the first quarter worth $124,255,000. Vanguard Group Inc. grew its stake in shares of Allergan PLC. by 2.2% in the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after purchasing an additional 482,220 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. grew its stake in shares of Allergan PLC. by 24.1% in the first quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock worth $456,313,000 after purchasing an additional 370,400 shares during the last quarter. 82.03% of the stock is currently owned by institutional investors.
Shares of Allergan PLC. (NYSE:AGN) opened at 206.75 on Friday. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $256.80. The firm’s 50-day moving average is $218.50 and its 200-day moving average is $233.15. The company has a market cap of $69.12 billion, a PE ratio of 6.30 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last issued its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business earned $3.35 earnings per share. Allergan PLC.’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts predict that Allergan PLC. will post $16.21 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 authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.35%. Allergan PLC.’s dividend payout ratio is 9.95%.
Several analysts recently weighed in on the stock. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan PLC. and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Company reissued a “buy” rating on shares of Allergan PLC. in a research note on Monday, October 2nd. Barclays PLC reissued an “equal weight” rating on shares of Allergan PLC. in a research note on Monday, October 2nd. UBS AG reissued a “buy” rating and issued a $275.00 price objective on shares of Allergan PLC. in a research note on Tuesday, September 26th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $266.00 price objective (down previously from $286.00) on shares of Allergan PLC. in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $271.64.
Allergan PLC. 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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