Covenant Asset Management LLC Has $344,000 Stake in Allergan PLC. (AGN)
Covenant Asset Management LLC continued to hold its position in shares of Allergan PLC. (NYSE:AGN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,416 shares of the company’s stock at the end of the second quarter. Covenant Asset Management LLC’s holdings in Allergan PLC. were worth $344,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Veritas Asset Management LLP bought a new position in shares of Allergan PLC. during the first quarter valued at about $761,339,000. Iridian Asset Management LLC CT raised its position in shares of Allergan PLC. by 141.3% in the first quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after buying an additional 751,848 shares during the period. Renaissance Technologies LLC bought a new position in shares of Allergan PLC. during the first quarter valued at about $124,255,000. Blue Ridge Capital L.L.C. raised its position in shares of Allergan PLC. by 24.1% in the first quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after buying an additional 370,400 shares during the period. Finally, First Manhattan Co. raised its position in shares of Allergan PLC. by 193.3% in the first quarter. First Manhattan Co. now owns 497,793 shares of the company’s stock valued at $114,646,000 after buying an additional 328,062 shares during the period. Institutional investors own 83.63% of the company’s stock.
Allergan PLC. (NYSE:AGN) traded down 0.47% during trading on Thursday, reaching $226.91. 1,023,431 shares of the company were exchanged. The stock has a market capitalization of $75.86 billion, a P/E ratio of 6.91 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 price is $244.51 and its 200-day moving average price is $238.70.
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 consensus estimate of $3.95 by $0.07. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.35 EPS. On average, equities analysts forecast that Allergan PLC. will post $16.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 1.23%. Allergan PLC.’s dividend payout ratio (DPR) is 9.95%.
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AGN has been the subject of several research reports. Zacks Investment Research upgraded shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) lowered shares of Allergan PLC. from a “buy” rating to a “neutral” rating and set a $262.00 target price for the company. in a research report on Wednesday, May 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Allergan PLC. in a research report on Thursday, May 25th. Royal Bank Of Canada upped their target price on shares of Allergan PLC. from $279.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 10th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $273.00 target price (up from $265.00) on shares of Allergan PLC. in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $275.49.
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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