Envestnet Asset Management Inc. Has $10.35 Million Holdings in Allergan PLC. (AGN)

Envestnet Asset Management Inc. trimmed its holdings in shares of Allergan PLC. (NYSE:AGN) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,516 shares of the company’s stock after selling 1,654 shares during the period. Envestnet Asset Management Inc.’s holdings in Allergan were worth $10,350,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AGN. Howard Hughes Medical Institute purchased a new position in shares of Allergan during the 2nd quarter worth approximately $103,000. Cable Hill Partners LLC raised its stake in shares of Allergan by 255.2% during the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after buying an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in shares of Allergan by 283.7% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after buying an additional 400 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Allergan by 4.9% during the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after buying an additional 22 shares in the last quarter. Finally, Massey Quick & Co. LLC raised its stake in shares of Allergan by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after buying an additional 385 shares in the last quarter. 81.34% of the stock is owned by institutional investors and hedge funds.

In related news, insider William Meury sold 11,807 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Brent L. Saunders bought 4,600 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average cost of $164.74 per share, for a total transaction of $757,804.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on AGN. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 target price (down from $277.00) on shares of Allergan in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 price objective on Allergan and gave the company a “buy” rating in a research note on Sunday, October 22nd. BidaskClub downgraded Allergan from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho reaffirmed a “buy” rating and issued a $267.00 price objective on shares of Allergan in a research note on Monday, September 25th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $258.00 price objective on shares of Allergan in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $241.56.

Shares of Allergan PLC. (AGN) opened at $168.00 on Thursday. Allergan PLC. has a fifty-two week low of $160.07 and a fifty-two week high of $256.80. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $54,636.75, a price-to-earnings ratio of 10.65, a PEG ratio of 1.10 and a beta of 1.11.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the firm earned $3.32 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. research analysts expect that Allergan PLC. will post 16.28 EPS for the current fiscal year.

Allergan announced that its Board of Directors has initiated a share buyback program on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is -12.44%.

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Allergan Company 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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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