Benson Investment Management Company Inc. Boosts Stake in Allergan PLC. (NYSE:AGN)
Benson Investment Management Company Inc. increased its position in Allergan PLC. (NYSE:AGN) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 8,789 shares of the company’s stock after buying an additional 10 shares during the period. Benson Investment Management Company Inc.’s holdings in Allergan PLC. were worth $2,137,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. Crestwood Advisors Group LLC acquired a new stake in Allergan PLC. during the first quarter worth $103,000. Feltz Wealth PLAN Inc. acquired a new stake in Allergan PLC. during the first quarter worth $107,000. Enterprise Financial Services Corp increased its stake in Allergan PLC. by 62.7% in the first quarter. Enterprise Financial Services Corp now owns 462 shares of the company’s stock worth $110,000 after buying an additional 178 shares in the last quarter. Jacobi Capital Management LLC increased its stake in Allergan PLC. by 4.9% in the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after buying an additional 22 shares in the last quarter. Finally, JNBA Financial Advisors increased its stake in Allergan PLC. by 2.5% in the first quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock worth $116,000 after buying an additional 12 shares in the last quarter. 84.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allergan PLC. (AGN) traded up 1.57% on Tuesday, reaching $245.01. 972,362 shares of the company traded hands. Allergan PLC. has a one year low of $184.50 and a one year high of $256.80. The firm’s 50 day moving average is $245.21 and its 200 day moving average is $237.12. The company has a market capitalization of $82.29 billion, a P/E ratio of 7.63 and a beta of 1.16.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.07. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. Allergan PLC. had a return on equity of 7.25% and a net margin of 79.17%. Allergan PLC.’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $3.35 earnings per share. Analysts expect that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, August 16th. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.
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A number of research firms have weighed in on AGN. Mizuho reiterated a “buy” rating and set a $267.00 price target on shares of Allergan PLC. in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $285.00 price target on shares of Allergan PLC. and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company lifted their price target on shares of Allergan PLC. to $278.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $273.00 price target (up previously from $265.00) on shares of Allergan PLC. in a research note on Monday, July 17th. Finally, Vetr upgraded shares of Allergan PLC. from a “sell” rating to a “hold” rating and set a $242.88 price target on the stock in a research note on Monday, June 26th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Allergan PLC. presently has an average rating of “Buy” and a consensus target price of $274.14.
In related news, Director Nesli Basgoz sold 1,889 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $220.45, for a total value of $416,430.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.
About Allergan PLC.
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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