Loeb Partners Corp raised its position in shares of Allergan plc (NYSE:AGN) by 135.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,700 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Loeb Partners Corp’s holdings in Allergan were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vigilant Capital Management LLC lifted its position in shares of Allergan by 16.2% during the fourth quarter. Vigilant Capital Management LLC now owns 581 shares of the company’s stock worth $78,000 after acquiring an additional 81 shares in the last quarter. Wright Investors Service Inc. lifted its position in shares of Allergan by 2.2% during the fourth quarter. Wright Investors Service Inc. now owns 3,862 shares of the company’s stock worth $516,000 after acquiring an additional 83 shares in the last quarter. OLD Second National Bank of Aurora lifted its position in shares of Allergan by 1.4% during the fourth quarter. OLD Second National Bank of Aurora now owns 5,962 shares of the company’s stock worth $797,000 after acquiring an additional 84 shares in the last quarter. Beaton Management Co. Inc. lifted its position in shares of Allergan by 5.6% during the third quarter. Beaton Management Co. Inc. now owns 1,891 shares of the company’s stock worth $361,000 after acquiring an additional 100 shares in the last quarter. Finally, Pflug Koory LLC lifted its position in shares of Allergan by 17.4% during the fourth quarter. Pflug Koory LLC now owns 709 shares of the company’s stock worth $95,000 after acquiring an additional 105 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.
Shares of AGN stock opened at $139.07 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.37. Allergan plc has a 52-week low of $125.84 and a 52-week high of $197.00. The firm has a market capitalization of $46.91 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.
Allergan announced that its board has authorized a share buyback plan on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Allergan’s previous quarterly dividend of $0.72. Allergan’s dividend payout ratio (DPR) is 17.26%.
Several equities research analysts have issued reports on AGN shares. Royal Bank of Canada set a $220.00 target price on Allergan and gave the stock a “buy” rating in a research report on Friday, November 30th. Credit Suisse Group downgraded Allergan from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $161.00 in a research report on Thursday, January 31st. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. ValuEngine downgraded Allergan from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Finally, TheStreet downgraded Allergan from a “c” rating to a “d+” rating in a research report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Allergan currently has a consensus rating of “Hold” and a consensus target price of $199.79.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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