Bank of Nova Scotia Raises Position in Allergan PLC. (AGN)
Bank of Nova Scotia boosted its position in shares of Allergan PLC. (NYSE:AGN) by 77.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,160 shares of the company’s stock after buying an additional 64,116 shares during the period. Bank of Nova Scotia’s holdings in Allergan PLC. were worth $35,160,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC raised its position in shares of Allergan PLC. by 21.3% in the first quarter. Manning & Napier Advisors LLC now owns 11,980 shares of the company’s stock worth $2,862,000 after buying an additional 2,100 shares in the last quarter. Charter Trust Co. bought a new stake in Allergan PLC. during the first quarter valued at approximately $213,000. Quadrant Capital Group LLC raised its stake in Allergan PLC. by 38.6% in the first quarter. Quadrant Capital Group LLC now owns 1,185 shares of the company’s stock valued at $274,000 after buying an additional 330 shares during the period. Murphy Capital Management Inc. raised its stake in Allergan PLC. by 2.2% in the first quarter. Murphy Capital Management Inc. now owns 3,980 shares of the company’s stock valued at $950,000 after buying an additional 84 shares during the period. Finally, Daiwa SB Investments Ltd. bought a new stake in Allergan PLC. during the first quarter valued at approximately $3,880,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allergan PLC. (NYSE:AGN) traded up 0.57% during midday trading on Wednesday, hitting $241.10. The stock had a trading volume of 954,875 shares. Allergan PLC. has a 12-month low of $184.50 and a 12-month high of $256.80. The stock has a 50-day moving average price of $246.48 and a 200-day moving average price of $237.35. The stock has a market cap of $80.98 billion, a P/E ratio of 7.51 and a beta of 1.16.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.07. The company 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%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.35 EPS. Equities analysts forecast that Allergan PLC. will post $16.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, August 16th. Allergan PLC.’s dividend payout ratio (DPR) is currently 9.95%.
Several analysts recently commented on the company. BidaskClub lowered Allergan PLC. from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company reaffirmed an “outperform” rating and set a $280.00 target price (up from $270.00) on shares of Allergan PLC. in a report on Wednesday. Credit Suisse Group set a $288.00 target price on Allergan PLC. and gave the stock a “buy” rating in a report on Saturday. Royal Bank Of Canada set a $285.00 target price on Allergan PLC. and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $267.00 target price on shares of Allergan PLC. in a report on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Allergan PLC. currently has an average rating of “Buy” and a consensus target price of $274.24.
In related news, Director Nesli Basgoz sold 1,889 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through the SEC website. Company 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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