Wetherby Asset Management Inc. raised its holdings in Allergan plc (NYSE:AGN) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,877 shares of the company’s stock after buying an additional 653 shares during the period. Wetherby Asset Management Inc.’s holdings in Allergan were worth $2,325,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in AGN. Nomura Holdings Inc. increased its stake in shares of Allergan by 9.2% during the fourth quarter. Nomura Holdings Inc. now owns 30,522 shares of the company’s stock worth $4,074,000 after purchasing an additional 2,580 shares during the period. American Century Companies Inc. increased its stake in shares of Allergan by 21.1% during the fourth quarter. American Century Companies Inc. now owns 1,235,389 shares of the company’s stock worth $165,122,000 after purchasing an additional 214,955 shares during the period. Institute for Wealth Management LLC. bought a new position in shares of Allergan during the fourth quarter worth approximately $716,000. Duality Advisers LP bought a new position in shares of Allergan during the fourth quarter worth approximately $13,282,000. Finally, Cetera Investment Advisers bought a new position in shares of Allergan during the first quarter worth approximately $233,000. Hedge funds and other institutional investors own 80.25% of the company’s stock.
A number of brokerages have recently weighed in on AGN. Jefferies Financial Group began coverage on Allergan in a research note on Monday, April 15th. They set a “hold” rating and a $144.95 target price on the stock. SunTrust Banks began coverage on Allergan in a research note on Tuesday, March 19th. They set a “buy” rating and a $178.00 target price on the stock. Credit Suisse Group set a $155.00 target price on Allergan and gave the stock a “hold” rating in a research note on Monday, March 25th. Raymond James reduced their price target on Allergan from $181.00 to $166.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Mizuho reduced their price target on Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Allergan currently has an average rating of “Hold” and a consensus target price of $184.52.
Shares of AGN stock traded down $1.57 during trading hours on Friday, reaching $136.47. The company’s stock had a trading volume of 21,197 shares, compared to its average volume of 2,514,701. The company has a market cap of $45.39 billion, a PE ratio of 8.18, a P/E/G ratio of 1.26 and a beta of 1.32. Allergan plc has a fifty-two week low of $125.84 and a fifty-two week high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.55 by $0.24. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.55 billion. Allergan had a positive return on equity of 8.45% and a negative net margin of 45.94%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.74 EPS. On average, equities analysts predict that Allergan plc will post 16.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 14th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, May 13th. Allergan’s dividend payout ratio is presently 17.74%.
Allergan announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 29th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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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