Allergan PLC. (AGN) Stake Increased by Bridges Investment Counsel Inc.
Bridges Investment Counsel Inc. raised its stake in Allergan PLC. (NYSE:AGN) by 102.4% during the second quarter, Holdings Channel reports. The fund owned 21,908 shares of the company’s stock after buying an additional 11,086 shares during the period. Allergan PLC. comprises 1.2% of Bridges Investment Counsel Inc.’s portfolio, making the stock its 29th largest position. Bridges Investment Counsel Inc.’s holdings in Allergan PLC. were worth $5,326,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of AGN. Manning & Napier Advisors LLC boosted its stake in Allergan PLC. by 21.3% in the first quarter. Manning & Napier Advisors LLC now owns 11,980 shares of the company’s stock valued at $2,862,000 after buying an additional 2,100 shares during the last quarter. Trust Co boosted its stake in Allergan PLC. by 0.7% in the fourth quarter. Trust Co now owns 1,214 shares of the company’s stock valued at $255,000 after buying an additional 9 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Allergan PLC. by 7.6% in the first quarter. Raymond James Trust N.A. now owns 8,868 shares of the company’s stock valued at $2,119,000 after buying an additional 629 shares during the last quarter. Charter Trust Co. acquired a new stake in Allergan PLC. during the first quarter valued at about $213,000. Finally, Douglass Winthrop Advisors LLC boosted its stake in Allergan PLC. by 15.6% in the first quarter. Douglass Winthrop Advisors LLC now owns 11,675 shares of the company’s stock valued at $2,789,000 after buying an additional 1,574 shares during the last quarter. 84.77% of the stock is currently owned by institutional investors.
Shares of Allergan PLC. (AGN) traded down 0.385% during trading on Monday, reaching $241.715. 824,072 shares of the company were exchanged. The firm has a market capitalization of $81.18 billion, a PE ratio of 7.531 and a beta of 1.16. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80. The company’s 50-day moving average is $245.21 and its 200 day moving average is $237.12.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.25%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the firm earned $3.35 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that Allergan PLC. will post $16.20 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.15%. Allergan PLC.’s dividend payout ratio is presently 9.95%.
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Several analysts recently issued reports on AGN shares. Royal Bank Of Canada set a $279.00 target price on Allergan PLC. and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Citigroup Inc. reissued a “focus list” rating and issued a $261.27 target price (up from $184.50) on shares of Allergan PLC. in a research note 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 objective on the stock. in a research report on Wednesday, May 10th. UBS AG reaffirmed a “buy” rating and set a $275.00 price objective on shares of Allergan PLC. in a research report on Monday, May 15th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Allergan PLC. in a research report on Thursday, May 25th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $274.14.
In other Allergan PLC. news, Director Nesli Basgoz sold 1,889 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were 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 is available through the SEC website. 0.36% of the stock is currently owned by company insiders.
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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