Wright Investors Service Inc. lifted its stake in Allergan plc (NYSE:AGN) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,862 shares of the company’s stock after acquiring an additional 83 shares during the period. Wright Investors Service Inc.’s holdings in Allergan were worth $516,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its position in Allergan by 32.3% during the 2nd quarter. Schroder Investment Management Group now owns 144,267 shares of the company’s stock valued at $24,321,000 after buying an additional 35,203 shares in the last quarter. Bank of New York Mellon Corp increased its position in Allergan by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after buying an additional 99,490 shares in the last quarter. Atria Investments LLC increased its position in Allergan by 50.7% during the 3rd quarter. Atria Investments LLC now owns 9,931 shares of the company’s stock valued at $1,892,000 after buying an additional 3,341 shares in the last quarter. Nwam LLC increased its position in Allergan by 7.8% during the 3rd quarter. Nwam LLC now owns 5,472 shares of the company’s stock valued at $1,042,000 after buying an additional 397 shares in the last quarter. Finally, We Are One Seven LLC acquired a new position in Allergan during the 3rd quarter valued at about $847,000. 78.09% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Matthew M. Walsh bought 1,000 shares of the stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of $157.00 per share, for a total transaction of $157,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.
Shares of AGN traded down $0.03 during mid-day trading on Wednesday, reaching $137.98. The company had a trading volume of 28,572 shares, compared to its average volume of 2,994,650. Allergan plc has a 52-week low of $125.84 and a 52-week high of $197.00. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $46.50 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.09 and a beta of 1.43.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, January 29th. The company reported $4.29 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $0.14. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the prior year, the business earned $4.86 earnings per share. The company’s revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Allergan plc will post 16.4 EPS for the current fiscal year.
Allergan announced that its Board of Directors has approved a share repurchase program on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 15th will be paid a $0.74 dividend. This is an increase from Allergan’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, February 14th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.15%. Allergan’s dividend payout ratio is presently 17.26%.
Several research analysts recently issued reports on the company. ValuEngine raised Allergan from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Credit Suisse Group dropped their price target on Allergan from $200.00 to $197.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 8th. Mizuho dropped their price target on Allergan to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, January 30th. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a research note on Wednesday, October 31st. Finally, Cantor Fitzgerald set a $180.00 price target on Allergan and gave the company a “hold” rating in a research note on Wednesday, December 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $201.37.
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Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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