Bridges Investment Management Inc. cut its stake in shares of Allergan plc (NYSE:AGN) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,158 shares of the company’s stock after selling 1,355 shares during the quarter. Bridges Investment Management Inc.’s holdings in Allergan were worth $7,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of AGN. Flagship Harbor Advisors LLC purchased a new stake in Allergan in the 2nd quarter worth approximately $129,000. Kaizen Advisory LLC lifted its holdings in Allergan by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock worth $138,000 after buying an additional 506 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Allergan by 3,193.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock worth $165,000 after buying an additional 958 shares during the period. Aries Wealth Management purchased a new stake in Allergan in the 2nd quarter worth approximately $202,000. Finally, Avestar Capital LLC lifted its holdings in Allergan by 46.1% in the 1st quarter. Avestar Capital LLC now owns 1,185 shares of the company’s stock worth $183,000 after buying an additional 374 shares during the period. Institutional investors own 77.43% of the company’s stock.
In related news, Director Joseph H. Boccuzi acquired 900 shares of Allergan stock in a transaction that occurred on Thursday, August 30th. The stock was bought at an average price of $190.59 per share, with a total value of $171,531.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher J. Coughlin acquired 10,000 shares of Allergan stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
AGN opened at $190.08 on Friday. The company has a market capitalization of $63.96 billion, a PE ratio of 11.63, a PEG ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85. Allergan plc has a 52 week low of $142.81 and a 52 week high of $227.54.
Allergan (NYSE:AGN) last released its earnings results on Thursday, July 26th. The company reported $4.42 EPS for the quarter, beating the Zacks’ consensus estimate of $4.13 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Allergan had a positive return on equity of 8.60% and a negative net margin of 10.29%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.02 EPS. research analysts expect that Allergan plc will post 16.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, August 16th. Allergan’s payout ratio is presently 17.61%.
Several research firms have weighed in on AGN. Mizuho reiterated a “hold” rating and issued a $194.00 price objective on shares of Allergan in a report on Monday, July 30th. Credit Suisse Group set a $213.00 price objective on Allergan and gave the stock a “buy” rating in a report on Friday, July 13th. Cantor Fitzgerald set a $180.00 price objective on Allergan and gave the stock a “hold” rating in a report on Monday, August 6th. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a report on Monday, June 11th. Finally, Morgan Stanley set a $202.00 price objective on Allergan and gave the stock an “overweight” rating in a report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $210.10.
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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