Beach Investment Counsel Inc. PA lowered its stake in Allergan PLC. (NYSE:AGN) by 48.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,740 shares of the company’s stock after selling 45,455 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Allergan PLC. were worth $9,784,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hudock Capital Group LLC raised its holdings in shares of Allergan PLC. by 0.4% in the second quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock worth $138,000 after buying an additional 2 shares during the last quarter. Burns J W & Co. Inc. NY raised its holdings in shares of Allergan PLC. by 0.7% in the second quarter. Burns J W & Co. Inc. NY now owns 906 shares of the company’s stock worth $220,000 after buying an additional 6 shares during the last quarter. Pacific Center for Financial Services raised its holdings in shares of Allergan PLC. by 1.3% in the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after buying an additional 7 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Allergan PLC. by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,666 shares of the company’s stock worth $405,000 after buying an additional 9 shares during the last quarter. Finally, Trust Co raised its holdings in shares of Allergan PLC. by 0.8% in the first quarter. Trust Co now owns 1,224 shares of the company’s stock worth $292,000 after buying an additional 10 shares during the last quarter. 82.02% of the stock is owned by institutional investors and hedge funds.
Shares of Allergan PLC. (NYSE:AGN) traded down 1.02% during mid-day trading on Tuesday, hitting $176.82. 2,018,242 shares of the stock traded hands. Allergan PLC. has a 12-month low of $174.66 and a 12-month high of $256.80. The firm’s 50 day moving average price is $203.99 and its 200 day moving average price is $227.73. The firm has a market cap of $59.11 billion, a price-to-earnings ratio of 5.39 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.95 by $0.07. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.95 billion. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.35 EPS. On average, equities research analysts predict that Allergan PLC. will post $16.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.57%. Allergan PLC.’s dividend payout ratio is presently 9.95%.
Allergan PLC. declared that its Board of Directors has initiated a share buyback plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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A number of research analysts have issued reports on AGN shares. Zacks Investment Research raised shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Tuesday, July 11th. Credit Suisse Group set a $288.00 target price on shares of Allergan PLC. and gave the stock a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada set a $285.00 target price on shares of Allergan PLC. and gave the stock a “buy” rating in a report on Thursday, August 3rd. Deutsche Bank AG reissued a “buy” rating and set a $278.00 target price (up previously from $273.00) on shares of Allergan PLC. in a report on Wednesday, August 9th. Finally, Mizuho reissued a “buy” rating and set a $267.00 target price on shares of Allergan PLC. in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. Allergan PLC. presently has an average rating of “Hold” and an average target price of $252.39.
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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