Essex Financial Services Inc. cut its position in shares of Allergan PLC. (NYSE:AGN) by 34.6% during the first quarter, Holdings Channel reports. The firm owned 1,482 shares of the company’s stock after selling 785 shares during the period. Essex Financial Services Inc.’s holdings in Allergan PLC. were worth $354,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Appaloosa LP raised its stake in shares of Allergan PLC. by 249.8% in the fourth quarter. Appaloosa LP now owns 4,261,406 shares of the company’s stock worth $894,938,000 after buying an additional 3,043,097 shares during the period. Janus Capital Management LLC raised its stake in shares of Allergan PLC. by 20.5% in the fourth quarter. Janus Capital Management LLC now owns 3,897,873 shares of the company’s stock worth $818,699,000 after buying an additional 663,390 shares during the period. Baupost Group LLC MA raised its stake in shares of Allergan PLC. by 71.5% in the fourth quarter. Baupost Group LLC MA now owns 3,432,603 shares of the company’s stock worth $720,881,000 after buying an additional 1,430,625 shares during the period. Norges Bank acquired a new stake in shares of Allergan PLC. during the fourth quarter worth $682,333,000. Finally, Edgewood Management LLC acquired a new stake in shares of Allergan PLC. during the fourth quarter worth $530,518,000. Institutional investors own 84.63% of the company’s stock.

Institutional Ownership by Quarter for Allergan PLC. (NYSE:AGN)

Shares of Allergan PLC. (AGN) opened at 237.67 on Tuesday. The company has a 50-day moving average price of $230.57 and a 200-day moving average price of $227.45. The firm has a market cap of $79.83 billion, a price-to-earnings ratio of 7.41 and a beta of 1.16. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $261.27.

Allergan PLC. (NYSE:AGN) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.03. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. Allergan PLC. had a return on equity of 7.29% and a net margin of 82.42%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Analysts forecast that Allergan PLC. will post $16.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, May 18th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Tuesday, May 16th. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.63%.

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AGN has been the topic of several recent research reports. Vetr upgraded Allergan PLC. from a “hold” rating to a “buy” rating and set a $256.33 price target on the stock in a report on Wednesday, March 1st. Citigroup Inc. reiterated a “focus list” rating and issued a $261.27 price target (up previously from $184.50) on shares of Allergan PLC. in a report on Friday, April 21st. Goldman Sachs Group, Inc. (The) cut Allergan PLC. from a “buy” rating to a “neutral” rating and set a $262.00 price target on the stock. in a report on Wednesday, May 10th. Royal Bank Of Canada raised their price target on Allergan PLC. from $279.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. Finally, Cantor Fitzgerald initiated coverage on Allergan PLC. in a report on Friday. They issued a “neutral” rating and a $231.00 price target on the stock. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Allergan PLC. presently has a consensus rating of “Buy” and an average price target of $270.91.

In other news, Director Nesli Basgoz sold 1,889 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $220.45, for a total value of $416,430.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Allergan PLC. Company 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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