Russell Investments Group Ltd. lessened its holdings in Allergan plc (NYSE:AGN) by 34.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,856 shares of the company’s stock after selling 70,890 shares during the quarter. Russell Investments Group Ltd.’s holdings in Allergan were worth $22,357,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AGN. Longview Partners Guernsey LTD raised its position in shares of Allergan by 10.7% in the 2nd quarter. Longview Partners Guernsey LTD now owns 6,986,566 shares of the company’s stock valued at $1,169,761,000 after acquiring an additional 676,771 shares during the period. Nuveen Asset Management LLC raised its holdings in Allergan by 1,665.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock worth $519,813,000 after buying an additional 2,928,846 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Allergan by 19.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,798,601 shares of the company’s stock worth $468,570,000 after buying an additional 463,755 shares during the period. Renaissance Technologies LLC raised its holdings in Allergan by 21.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,743,966 shares of the company’s stock worth $459,422,000 after buying an additional 485,600 shares during the period. Finally, Paulson & CO. Inc. raised its holdings in Allergan by 45.2% during the 2nd quarter. Paulson & CO. Inc. now owns 2,249,500 shares of the company’s stock worth $376,634,000 after buying an additional 700,000 shares during the period. 80.70% of the stock is currently owned by institutional investors.
Several brokerages have commented on AGN. Royal Bank of Canada restated a “hold” rating and set a $178.00 target price on shares of Allergan in a report on Thursday, August 8th. TheStreet upgraded shares of Allergan from a “d+” rating to a “c” rating in a report on Friday, July 12th. Cantor Fitzgerald lifted their price objective on shares of Allergan from $125.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Barclays lifted their price objective on shares of Allergan from $176.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein downgraded shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective on the stock. in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. Allergan currently has a consensus rating of “Hold” and an average price target of $175.16.
Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, November 5th. The company reported $4.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $4.25. The company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Allergan had a positive return on equity of 9.08% and a negative net margin of 58.50%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.25 earnings per share. On average, sell-side analysts predict that Allergan plc will post 16.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, November 12th. Allergan’s dividend payout ratio (DPR) is currently 17.74%.
Allergan Company Profile
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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