Rhumbline Advisers Increases Position in Allergan PLC. (AGN)
Rhumbline Advisers increased its stake in shares of Allergan PLC. (NYSE:AGN) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 521,276 shares of the company’s stock after acquiring an additional 7,500 shares during the quarter. Rhumbline Advisers owned about 0.16% of Allergan PLC. worth $106,836,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Edge Asset Management Inc. increased its holdings in Allergan PLC. by 1.4% in the 1st quarter. Edge Asset Management Inc. now owns 113,476 shares of the company’s stock valued at $27,111,000 after buying an additional 1,608 shares during the period. Lakeview Capital Partners LLC bought a new stake in Allergan PLC. in the 1st quarter valued at $206,000. First Long Island Investors LLC bought a new stake in Allergan PLC. in the 1st quarter valued at $4,826,000. Citizens Financial Group Inc. RI increased its holdings in Allergan PLC. by 39.7% in the 1st quarter. Citizens Financial Group Inc. RI now owns 824 shares of the company’s stock valued at $197,000 after buying an additional 234 shares during the period. Finally, Homrich & Berg increased its holdings in Allergan PLC. by 21.8% in the 1st quarter. Homrich & Berg now owns 1,283 shares of the company’s stock valued at $307,000 after buying an additional 230 shares during the period. 81.21% of the stock is currently owned by institutional investors and hedge funds.
AGN has been the topic of several analyst reports. Royal Bank Of Canada set a $284.00 price target on shares of Allergan PLC. and gave the company a “buy” rating in a report on Sunday, July 16th. Deutsche Bank AG reissued a “buy” rating and issued a $273.00 price target (up previously from $265.00) on shares of Allergan PLC. in a report on Monday, July 17th. Credit Suisse Group reissued an “outperform” rating and issued a $286.00 price target (up previously from $274.00) on shares of Allergan PLC. in a report on Thursday, July 20th. Mizuho reissued a “buy” rating and issued a $267.00 price target on shares of Allergan PLC. in a report on Wednesday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Allergan PLC. to $278.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $246.73.
Allergan PLC. (AGN) traded up $2.19 during trading on Monday, reaching $174.40. 2,411,671 shares of the company’s stock were exchanged, compared to its average volume of 2,918,937. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Allergan PLC. has a 52 week low of $169.64 and a 52 week high of $256.80. The firm has a market cap of $57,270.00, a P/E ratio of 11.17, a PEG ratio of 1.09 and a beta of 1.12.
Allergan PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the company posted $3.32 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. research analysts expect that Allergan PLC. will post 16.28 earnings per share for the current fiscal year.
Allergan PLC. declared that its board has initiated a share repurchase plan on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 1.61%. Allergan PLC.’s payout ratio is presently -12.39%.
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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