Institutional & Family Asset Management LLC Acquires 438 Shares of Allergan PLC. (AGN)
Institutional & Family Asset Management LLC increased its holdings in Allergan PLC. (NYSE:AGN) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,962 shares of the company’s stock after purchasing an additional 438 shares during the period. Institutional & Family Asset Management LLC’s holdings in Allergan were worth $1,017,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Allergan by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after acquiring an additional 482,220 shares during the period. Northern Trust Corp boosted its holdings in Allergan by 8.8% during the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock valued at $1,092,189,000 after acquiring an additional 364,722 shares during the period. Edgewood Management LLC boosted its holdings in Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after acquiring an additional 869,248 shares during the period. Baupost Group LLC MA boosted its holdings in Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after acquiring an additional 531,600 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in Allergan by 1.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock valued at $370,060,000 after acquiring an additional 17,068 shares during the period. Hedge funds and other institutional investors own 81.34% of the company’s stock.
A number of research firms have issued reports on AGN. Cantor Fitzgerald set a $191.00 price target on shares of Allergan and gave the company a “hold” rating in a report on Tuesday. Argus cut shares of Allergan from a “buy” rating to a “hold” rating and reduced their target price for the company from $256.80 to $160.07 in a research note on Thursday, December 7th. Vetr cut shares of Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 target price for the company. in a research note on Wednesday, December 6th. Morgan Stanley set a $200.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Wednesday, December 6th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Allergan in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $235.25.
Allergan PLC. (AGN) opened at $170.94 on Friday. Allergan PLC. has a 52-week low of $160.07 and a 52-week high of $256.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. The stock has a market cap of $56,286.37, a PE ratio of 10.98, a P/E/G ratio of 1.13 and a beta of 1.11.
Allergan (NYSE:AGN) last posted its quarterly earnings results 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. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business posted $3.32 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. analysts expect that Allergan PLC. will post 16.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
Allergan announced that its board has authorized a stock buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, insider William Meury sold 11,807 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chris W. Bodine acquired 3,030 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were purchased at an average cost of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. Insiders purchased 17,630 shares of company stock valued at $2,890,057 in the last three months. Company 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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