Newport Trust Co Sells 18,721 Shares of Allergan plc (NYSE:AGN)

Newport Trust Co cut its holdings in Allergan plc (NYSE:AGN) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,250,381 shares of the company’s stock after selling 18,721 shares during the quarter. Allergan comprises 0.6% of Newport Trust Co’s portfolio, making the stock its 18th largest position. Newport Trust Co owned approximately 0.38% of Allergan worth $210,427,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its holdings in shares of Allergan by 5.6% during the third quarter. Daiwa Securities Group Inc. now owns 13,599 shares of the company’s stock worth $2,289,000 after acquiring an additional 717 shares during the period. Tibra Equities Europe Ltd acquired a new stake in shares of Allergan during the third quarter worth $43,169,000. Parallel Advisors LLC raised its holdings in shares of Allergan by 151.3% during the third quarter. Parallel Advisors LLC now owns 1,186 shares of the company’s stock worth $200,000 after acquiring an additional 714 shares during the period. Pillar Pacific Capital Management LLC raised its holdings in shares of Allergan by 0.4% during the third quarter. Pillar Pacific Capital Management LLC now owns 27,971 shares of the company’s stock worth $4,707,000 after acquiring an additional 121 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of Allergan by 32.0% during the third quarter. Gabelli Funds LLC now owns 402,588 shares of the company’s stock worth $67,752,000 after acquiring an additional 97,573 shares during the period. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

AGN stock traded up $2.60 during midday trading on Friday, hitting $181.28. The company’s stock had a trading volume of 2,339,664 shares, compared to its average volume of 3,255,166. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.67 and a quick ratio of 0.91. Allergan plc has a twelve month low of $114.27 and a twelve month high of $181.45. The company’s fifty day moving average price is $171.62 and its 200 day moving average price is $155.71. The stock has a market capitalization of $58.54 billion, a P/E ratio of 10.86, a PEG ratio of 2.11 and a beta of 1.66.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $4.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $4.25. Allergan had a negative net margin of 58.50% and a positive return on equity of 9.08%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the business earned $4.25 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Equities analysts expect that Allergan plc will post 16.7 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 13th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.96 annualized dividend and a yield of 1.63%. Allergan’s payout ratio is currently 17.74%.

A number of brokerages recently commented on AGN. Sanford C. Bernstein lowered shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective on the stock. in a report on Tuesday, July 16th. Wells Fargo & Co restated an “outperform” rating and set a $184.00 price objective (up from $176.00) on shares of Allergan in a report on Monday, September 30th. Leerink Swann lowered shares of Allergan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $217.00 to $188.00 in a report on Thursday, July 18th. ValuEngine lowered shares of Allergan from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Svb Leerink restated a “market perform” rating and set a $188.00 price objective (down from $217.00) on shares of Allergan in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $175.16.

About Allergan

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.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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