Allergan plc (NYSE:AGN) announced a quarterly dividend on Friday, February 9th, RTT News reports. Investors of record on Wednesday, February 28th will be paid a dividend of 0.72 per share on Wednesday, March 28th. This represents a $2.88 annualized dividend and a yield of 1.78%. This is a positive change from Allergan’s previous quarterly dividend of $0.70.
Allergan has raised its dividend payment by an average of 141.0% annually over the last three years. Allergan has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Allergan to earn $16.44 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 17.0%.
Shares of Allergan (AGN) traded down $2.49 during mid-day trading on Friday, reaching $161.71. 1,095,629 shares of the company traded hands, compared to its average volume of 2,987,929. Allergan has a one year low of $160.07 and a one year high of $256.80. The stock has a market cap of $54,610.00, a P/E ratio of -13.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 0.41.
Several brokerages recently commented on AGN. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective (down from $277.00) on shares of Allergan in a research report on Thursday, October 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $275.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Sunday, October 22nd. Wells Fargo & Co set a $245.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Friday, January 5th. Credit Suisse Group set a $214.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Mizuho cut shares of Allergan from a “buy” rating to a “neutral” rating and set a $193.00 target price on the stock. in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. Allergan has a consensus rating of “Buy” and a consensus target price of $227.23.
In other news, Chairman Brent L. Saunders bought 4,600 shares of Allergan stock in a transaction that occurred on Wednesday, December 6th. The stock was bought at an average cost of $164.74 per share, with a total value of $757,804.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Chris W. Bodine bought 3,030 shares of Allergan stock in a transaction that occurred on Thursday, December 7th. The stock was purchased at an average cost of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. Insiders bought a total of 17,630 shares of company stock worth $2,890,057 in the last quarter. Company insiders own 0.36% of the company’s stock.
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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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