Welch & Forbes LLC lessened its holdings in Allergan plc (NYSE:AGN) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,549 shares of the company’s stock after selling 2,180 shares during the period. Welch & Forbes LLC’s holdings in Allergan were worth $2,747,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Allergan by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after purchasing an additional 99,490 shares in the last quarter. Gradient Investments LLC boosted its holdings in Allergan by 747.5% during the third quarter. Gradient Investments LLC now owns 678 shares of the company’s stock valued at $129,000 after purchasing an additional 598 shares in the last quarter. First Hawaiian Bank acquired a new stake in Allergan during the third quarter valued at approximately $1,358,000. Andra AP fonden boosted its holdings in Allergan by 8.4% during the third quarter. Andra AP fonden now owns 47,800 shares of the company’s stock valued at $9,105,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in Allergan by 10.3% during the third quarter. Raymond James Trust N.A. now owns 6,323 shares of the company’s stock valued at $1,204,000 after purchasing an additional 591 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.
In other news, CFO Matthew M. Walsh acquired 1,000 shares of Allergan stock in a transaction on Friday, November 16th. The shares were purchased at an average price of $157.00 per share, with a total value of $157,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by insiders.
Shares of AGN traded up $2.43 on Tuesday, hitting $137.17. The company’s stock had a trading volume of 23,542 shares, compared to its average volume of 3,143,427. The company has a market capitalization of $46.16 billion, a P/E ratio of 8.24, a PEG ratio of 1.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.51 and a quick ratio of 1.34. Allergan plc has a fifty-two week low of $125.84 and a fifty-two week high of $197.00.
Allergan (NYSE:AGN) last announced its earnings results on Tuesday, January 29th. The company reported $4.29 EPS for the quarter, topping the consensus estimate of $4.15 by $0.14. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4 billion. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. Allergan’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.86 EPS. On average, sell-side analysts anticipate that Allergan plc will post 16.34 EPS for the current fiscal year.
Allergan declared that its board has initiated a stock repurchase program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 15th will be issued a $0.74 dividend. This is an increase from Allergan’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, February 14th. Allergan’s payout ratio is presently 17.26%.
AGN has been the topic of a number of recent research reports. Credit Suisse Group set a $200.00 price objective on Allergan and gave the company a “buy” rating in a report on Thursday, December 13th. Royal Bank of Canada set a $220.00 price objective on Allergan and gave the company a “buy” rating in a report on Friday, November 30th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a report on Wednesday, October 17th. Cowen set a $255.00 price objective on Allergan and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Raymond James decreased their price objective on Allergan from $232.00 to $198.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. The company presently 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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