Allergan plc (AGN) Holdings Reduced by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. cut its holdings in shares of Allergan plc (NYSE:AGN) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,075 shares of the company’s stock after selling 1,569 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Allergan were worth $1,480,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. QS Investors LLC increased its holdings in shares of Allergan by 53.3% in the fourth quarter. QS Investors LLC now owns 20,352 shares of the company’s stock worth $2,721,000 after purchasing an additional 7,076 shares during the last quarter. MFN Partners Management LP bought a new stake in shares of Allergan in the fourth quarter worth about $86,892,000. Nomura Holdings Inc. increased its holdings in shares of Allergan by 9.2% in the fourth quarter. Nomura Holdings Inc. now owns 30,522 shares of the company’s stock worth $4,074,000 after purchasing an additional 2,580 shares during the last quarter. Prosight Management LP increased its holdings in shares of Allergan by 95.5% in the fourth quarter. Prosight Management LP now owns 61,400 shares of the company’s stock worth $8,207,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Signet Financial Management LLC increased its holdings in shares of Allergan by 11,690.0% in the fourth quarter. Signet Financial Management LLC now owns 23,580 shares of the company’s stock worth $3,152,000 after purchasing an additional 23,380 shares during the last quarter. 80.23% of the stock is currently owned by institutional investors and hedge funds.

In other Allergan news, Chairman Brent L. Saunders bought 1,760 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was acquired at an average price of $143.67 per share, for a total transaction of $252,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Several brokerages have recently issued reports on AGN. Leerink Swann set a $217.00 target price on Allergan and gave the stock a “buy” rating in a report on Thursday, March 7th. ValuEngine raised Allergan from a “strong sell” rating to a “sell” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Allergan in a report on Thursday, March 7th. They noted that the move was a valuation call. Piper Jaffray Companies set a $161.00 target price on Allergan and gave the stock a “hold” rating in a report on Thursday, March 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $175.00 target price on shares of Allergan in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Allergan presently has a consensus rating of “Hold” and a consensus price target of $193.32.

AGN opened at $151.25 on Friday. The stock has a market capitalization of $49.83 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.17 and a beta of 1.33. Allergan plc has a 12 month low of $125.84 and a 12 month high of $197.00. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.35.

Allergan (NYSE:AGN) last announced its earnings results on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the business earned $4.86 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts anticipate that Allergan plc will post 16.35 earnings per share for the current year.

Allergan declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 15th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, February 14th. This is a positive change from Allergan’s previous quarterly dividend of $0.72. Allergan’s payout ratio is 17.74%.

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Allergan Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

Further Reading: SEC Filing

Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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