Lateef Investment Management L.P. lessened its stake in Allergan plc (NYSE:AGN) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,552 shares of the company’s stock after selling 42,321 shares during the period. Allergan makes up about 2.5% of Lateef Investment Management L.P.’s holdings, making the stock its 17th biggest holding. Lateef Investment Management L.P.’s holdings in Allergan were worth $26,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. Edgewood Management LLC boosted its stake in shares of Allergan by 24.3% in the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after purchasing an additional 869,248 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Allergan by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 3,422,365 shares of the company’s stock valued at $558,625,000 after purchasing an additional 72,303 shares in the last quarter. Baupost Group LLC MA boosted its stake in shares of Allergan by 21.9% in the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after purchasing an additional 531,600 shares in the last quarter. Parnassus Investments CA boosted its stake in shares of Allergan by 20.4% in the 4th quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock valued at $353,633,000 after purchasing an additional 365,914 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Allergan by 1.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock valued at $370,060,000 after purchasing an additional 17,068 shares in the last quarter. 78.40% of the stock is owned by institutional investors and hedge funds.
Shares of Allergan plc (NYSE AGN) opened at $157.28 on Monday. The firm has a market cap of $54,790.00, a price-to-earnings ratio of -13.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.38. Allergan plc has a 12-month low of $142.81 and a 12-month high of $256.80.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, February 27th. This is a positive change from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 1.83%. Allergan’s dividend payout ratio is -24.02%.
In related news, CEO Brent L. Saunders acquired 3,300 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was acquired at an average cost of $152.53 per share, for a total transaction of $503,349.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph H. Boccuzi acquired 900 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was bought at an average price of $143.42 per share, with a total value of $129,078.00. The disclosure for this purchase can be found here. Insiders acquired a total of 7,200 shares of company stock valued at $1,108,267 over the last 90 days. Company insiders own 0.36% of the company’s stock.
AGN has been the subject of a number of research reports. Cantor Fitzgerald set a $191.00 price objective on shares of Allergan and gave the company a “hold” rating in a research note on Tuesday, December 12th. Vetr cut shares of Allergan from a “hold” rating to a “sell” rating and set a $180.97 price objective for the company. in a research note on Monday, January 22nd. Bank of America upped their price objective on shares of Allergan from $208.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Deutsche Bank reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Allergan in a research note on Tuesday, January 9th. Finally, ValuEngine cut shares of Allergan from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Allergan presently has a consensus rating of “Buy” and a consensus price target of $225.03.
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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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