Tocqueville Asset Management L.P. boosted its stake in Allergan plc (NYSE:AGN) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,366 shares of the company’s stock after acquiring an additional 4,280 shares during the period. Tocqueville Asset Management L.P.’s holdings in Allergan were worth $18,144,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of AGN. Dimensional Fund Advisors LP lifted its stake in Allergan by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,606,982 shares of the company’s stock worth $214,787,000 after acquiring an additional 13,100 shares during the period. Geode Capital Management LLC raised its holdings in Allergan by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock worth $533,767,000 after purchasing an additional 247,743 shares in the last quarter. Two Sigma Advisers LP bought a new position in Allergan in the fourth quarter worth $708,000. Mercer Global Advisors Inc. ADV bought a new position in Allergan in the first quarter worth $2,061,000. Finally, Virtu Financial LLC bought a new position in Allergan in the first quarter worth $1,851,000. Hedge funds and other institutional investors own 79.95% of the company’s stock.
AGN has been the subject of a number of research reports. SunTrust Banks increased their price objective on Allergan to $185.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Raymond James downgraded Allergan from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Leerink Swann downgraded Allergan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $217.00 to $188.00 in a report on Thursday, July 18th. UBS Group decreased their price objective on Allergan from $173.00 to $172.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Sanford C. Bernstein downgraded Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective for the company. in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Allergan has an average rating of “Hold” and a consensus target price of $180.00.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company earned $4.42 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts anticipate that Allergan plc will post 16.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 13th will be issued a $0.74 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.96 annualized dividend and a yield of 1.87%. Allergan’s payout ratio is 17.74%.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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