Traders sold shares of Allergan PLC. (NYSE:AGN) on strength during trading on Monday. $115.38 million flowed into the stock on the tick-up and $153.50 million flowed out of the stock on the tick-down, for a money net flow of $38.12 million out of the stock. Of all equities tracked, Allergan had the 0th highest net out-flow for the day. Allergan traded up $4.96 for the day and closed at $172.76
Several brokerages recently issued reports on AGN. Cantor Fitzgerald set a $191.00 target price on shares of Allergan and gave the company a “hold” rating in a research note on Tuesday. TheStreet downgraded shares of Allergan from a “c-” rating to a “d+” rating in a research note on Monday, December 4th. 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. Wells Fargo & Company reiterated a “buy” rating on shares of Allergan in a research note on Wednesday, December 6th. Finally, Vetr downgraded 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $235.25.
The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market cap of $57,160.00, a PE ratio of 11.20, a PEG ratio of 1.16 and a beta of 1.11.
The business also recently disclosed 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 of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.64%. Allergan’s dividend payout ratio (DPR) is presently -12.39%.
Allergan declared that its Board of Directors has approved a stock 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 typically a sign that the company’s management believes its shares are undervalued.
In other Allergan news, Director Christopher J. Coughlin bought 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $163.30 per share, with a total value of $1,633,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Meury sold 11,807 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. Insiders have bought 17,630 shares of company stock worth $2,890,057 over the last ninety days. Insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Honeywell International Inc. increased its stake in Allergan by 13.6% in the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock valued at $40,871,000 after acquiring an additional 20,100 shares during the last quarter. Peloton Wealth Strategists increased its stake in Allergan by 37.1% in the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after acquiring an additional 2,835 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in Allergan by 39.0% in the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after acquiring an additional 4,244 shares during the last quarter. Fairbanks Capital Management Inc. increased its stake in Allergan by 1.3% in the second quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock valued at $1,332,000 after acquiring an additional 70 shares during the last quarter. Finally, Colony Group LLC increased its stake in Allergan by 9.9% in the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after acquiring an additional 3,577 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Investors Sell Allergan (AGN) on Strength (AGN)” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.com-unik.info/2017/12/13/investors-sell-allergan-agn-on-strength-agn.html.
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.
What are top analysts saying about Allergan? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Allergan and related companies.