Glovista Investments LLC continued to hold its stake in shares of Allergan PLC. (NYSE:AGN) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,865 shares of the company’s stock at the end of the 2nd quarter. Glovista Investments LLC’s holdings in Allergan PLC. were worth $696,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AGN. Pathstone Family Office LLC lifted its holdings in shares of Allergan PLC. by 3,327.3% during the second quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock valued at $2,035,000 after purchasing an additional 366 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Allergan PLC. during the second quarter valued at $103,000. Jacobi Capital Management LLC lifted its holdings in shares of Allergan PLC. by 4.9% during the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock valued at $112,000 after purchasing an additional 22 shares during the last quarter. JNBA Financial Advisors lifted its holdings in shares of Allergan PLC. by 2.5% during the first quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock valued at $116,000 after purchasing an additional 12 shares during the last quarter. Finally, Massey Quick & Co. LLC lifted its holdings in shares of Allergan PLC. by 334.8% during the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after purchasing an additional 385 shares during the last quarter. Institutional investors and hedge funds own 82.04% of the company’s stock.
AGN has been the subject of several analyst reports. Cantor Fitzgerald initiated coverage on Allergan PLC. in a report on Friday, June 16th. They set a “neutral” rating and a $231.00 target price for the company. BidaskClub raised Allergan PLC. from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Vetr downgraded Allergan PLC. from a “buy” rating to a “hold” rating and set a $234.38 target price for the company. in a report on Monday, June 19th. Zacks Investment Research raised Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a report on Tuesday, July 11th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $231.00 target price on shares of Allergan PLC. in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $271.64.
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Allergan PLC. (NYSE AGN) opened at 207.42 on Wednesday. Allergan PLC. has a one year low of $184.50 and a one year high of $256.80. The stock’s 50 day moving average price is $217.45 and its 200-day moving average price is $232.69. The firm has a market cap of $69.34 billion, a price-to-earnings ratio of 6.32 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last released its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the company posted $3.35 earnings per share. Allergan PLC.’s revenue was up 8.8% on a year-over-year basis. Analysts forecast that Allergan PLC. will post $16.21 earnings per share for the current year.
Allergan PLC. announced that its board has initiated a stock repurchase program on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 1.35%. Allergan PLC.’s payout ratio is presently 9.95%.
Allergan PLC. 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.
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