Rothschild Asset Management Inc. grew its stake in Allergan PLC. (NYSE:AGN) by 144.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 265,459 shares of the company’s stock after purchasing an additional 156,839 shares during the quarter. Rothschild Asset Management Inc. owned approximately 0.08% of Allergan PLC. worth $54,406,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Honeywell International Inc. raised its stake in shares of Allergan PLC. by 13.6% in the 2nd quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock valued at $40,871,000 after purchasing an additional 20,100 shares in the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Allergan PLC. by 39.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after purchasing an additional 4,244 shares in the last quarter. Colony Group LLC raised its stake in shares of Allergan PLC. by 9.9% in the 2nd quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after purchasing an additional 3,577 shares in the last quarter. Palladium Partners LLC raised its stake in shares of Allergan PLC. by 1.7% in the 2nd quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock valued at $7,575,000 after purchasing an additional 523 shares in the last quarter. Finally, Fairbanks Capital Management Inc. raised its stake in shares of Allergan PLC. by 1.3% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock valued at $1,332,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.
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A number of brokerages have recently issued reports on AGN. Morgan Stanley cut their target price on shares of Allergan PLC. from $228.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Cantor Fitzgerald dropped their price objective on shares of Allergan PLC. to $191.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Wells Fargo & Company reiterated an “outperform” rating and set a $245.00 price objective (down previously from $258.00) on shares of Allergan PLC. in a research note on Thursday, November 2nd. Royal Bank Of Canada dropped their price objective on shares of Allergan PLC. from $250.00 to $221.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of Allergan PLC. from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Allergan PLC. currently has an average rating of “Hold” and a consensus price target of $246.73.
Allergan PLC. (NYSE:AGN) traded down $3.73 during trading on Monday, hitting $171.15. 1,741,242 shares of the stock traded hands, compared to its average volume of 4,660,000. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $58,160.00, a PE ratio of 11.34, a PEG ratio of 1.11 and a beta of 1.12. Allergan PLC. has a twelve month low of $169.61 and a twelve month high of $256.80.
Allergan PLC. (NYSE:AGN) last issued its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $3.32 earnings per share. equities research analysts forecast that Allergan PLC. will post 16.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s payout ratio is -12.39%.
Allergan PLC. announced that its Board of Directors has authorized a share buyback program on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Allergan PLC. Profile
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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