Ballentine Partners LLC boosted its holdings in Allergan PLC. (NYSE:AGN) by 12.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,664 shares of the company’s stock after purchasing an additional 295 shares during the period. Ballentine Partners LLC’s holdings in Allergan PLC. were worth $546,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Howard Hughes Medical Institute acquired a new stake in Allergan PLC. during the second quarter valued at approximately $103,000. Cable Hill Partners LLC raised its stake in Allergan PLC. by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after buying an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in Allergan PLC. by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after buying an additional 400 shares in the last quarter. Jacobi Capital Management LLC raised its stake in 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 buying an additional 22 shares in the last quarter. Finally, Massey Quick & Co. LLC raised its stake in 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 buying an additional 385 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.
AGN has been the topic of several research reports. Argus restated a “buy” rating and set a $280.00 price objective on shares of Allergan PLC. in a research note on Monday, August 14th. Deutsche Bank AG restated a “buy” rating and issued a $273.00 target price (up from $265.00) on shares of Allergan PLC. in a research report on Monday, July 17th. Royal Bank Of Canada set a $284.00 price target on Allergan PLC. and gave the company a “buy” rating in a research note on Sunday, July 16th. Mizuho reaffirmed a “buy” rating and set a $267.00 price target on shares of Allergan PLC. in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group set a $288.00 price target on Allergan PLC. and gave the company a “buy” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of €246.73 ($286.90).
Shares of Allergan PLC. (AGN) traded down €0.79 ($0.92) during trading hours on Friday, hitting €172.21 ($200.24). The stock had a trading volume of 3,250,000 shares, compared to its average volume of 5,736,873. The firm has a market capitalization of $57,274.12, a P/E ratio of 11.17, a P/E/G ratio of 1.09 and a beta of 1.13. Allergan PLC. has a 12 month low of €169.64 ($197.26) and a 12 month high of €256.80 ($298.60). The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported €4.15 ($4.83) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of €4.06 ($4.72) by €0.09 ($0.10). Allergan PLC. had a positive return on equity of 8.00% and a negative net margin of 47.27%. The company had revenue of €4.03 billion for the quarter, compared to the consensus estimate of €4.04 billion. During the same period last year, the business posted $3.32 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. research analysts predict that Allergan PLC. will post 16.28 EPS for the current fiscal year.
Allergan PLC. announced that its board has authorized a share repurchase program on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio (DPR) is presently -12.44%.
Allergan PLC. Profile
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, womens health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimers disease.
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