Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Allergan plc (NYSE:AGN) by 73.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,825 shares of the company’s stock after selling 18,675 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Allergan were worth $1,300,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp raised its holdings in shares of Allergan by 65.4% in the 2nd quarter. Dupont Capital Management Corp now owns 3,759 shares of the company’s stock worth $627,000 after purchasing an additional 1,487 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Allergan by 13.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,229 shares of the company’s stock worth $5,874,000 after purchasing an additional 4,275 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of 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 purchasing an additional 958 shares during the period. First Trust Advisors LP raised its holdings in shares of Allergan by 1,113.1% in the 2nd quarter. First Trust Advisors LP now owns 78,122 shares of the company’s stock worth $13,024,000 after purchasing an additional 71,682 shares during the period. Finally, Alps Advisors Inc. purchased a new position in shares of Allergan in the 2nd quarter worth about $884,000. 78.24% of the stock is currently owned by institutional investors.
In other Allergan news, CFO Matthew M. Walsh acquired 1,000 shares of the stock in a transaction on Friday, November 16th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $157,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.36% of the stock is owned by company insiders.
Shares of NYSE:AGN opened at $152.42 on Friday. The stock has a market cap of $52.45 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.21 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.32. Allergan plc has a one year low of $142.81 and a one year high of $197.00.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm earned $4.15 EPS. Allergan’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that Allergan plc will post 16.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 13th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a yield of 1.89%. Allergan’s dividend payout ratio (DPR) is presently 17.61%.
A number of research firms have recently commented on AGN. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a report on Wednesday, October 31st. Royal Bank of Canada set a $220.00 price objective on Allergan and gave the stock a “buy” rating in a report on Friday, November 30th. Cowen set a $255.00 price objective on Allergan and gave the stock a “buy” rating in a report on Wednesday, October 17th. Finally, Leerink Swann started coverage on Allergan in a report on Monday, November 12th. They set an “outperform” rating and a $220.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $211.52.
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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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