SeaBridge Investment Advisors LLC Has $663,000 Position in Allergan PLC. (AGN)
SeaBridge Investment Advisors LLC decreased its position in shares of Allergan PLC. (NYSE:AGN) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,729 shares of the company’s stock after selling 426 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Allergan PLC. were worth $663,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Veritas Asset Management LLP purchased a new stake in Allergan PLC. during the first quarter worth $761,339,000. Edgewood Management LLC raised its stake in Allergan PLC. by 7.0% in the first quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock worth $646,090,000 after buying an additional 178,055 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Allergan PLC. by 3.8% in the first quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock worth $481,045,000 after buying an additional 73,081 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Allergan PLC. by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,995,281 shares of the company’s stock worth $476,713,000 after buying an additional 5,042 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. raised its stake in 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 buying an additional 370,400 shares in the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
Allergan PLC. (NYSE:AGN) traded down 1.34% during trading on Thursday, hitting $234.77. 921,192 shares of the company were exchanged. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80. The firm’s 50 day moving average price is $246.68 and its 200-day moving average price is $238.04. The stock has a market capitalization of $78.69 billion, a PE ratio of 7.15 and a beta of 1.16.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.25%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the company earned $3.35 EPS. Allergan PLC.’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts predict that Allergan PLC. will post $16.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 1.18%. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.
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A number of analysts have weighed in on AGN shares. BidaskClub lowered shares of Allergan PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup Inc. restated a “focus list” rating and set a $261.27 price objective (up from $184.50) on shares of Allergan PLC. in a research note on Friday, April 21st. Deutsche Bank AG restated a “buy” rating and set a $273.00 price objective (up from $265.00) on shares of Allergan PLC. in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) lowered shares of Allergan PLC. from a “buy” rating to a “neutral” rating and set a $262.00 price objective for the company. in a research note on Wednesday, May 10th. Finally, Royal Bank Of Canada raised their price objective on shares of Allergan PLC. from $279.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $274.49.
In related news, Director Nesli Basgoz sold 1,889 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $220.45, for a total value of $416,430.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by corporate insiders.
About Allergan PLC.
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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