Allergan PLC. (AGN) Stake Lowered by Macquarie Group Ltd.
Macquarie Group Ltd. lessened its holdings in Allergan PLC. (NYSE:AGN) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 575,770 shares of the company’s stock after selling 113,958 shares during the period. Macquarie Group Ltd. owned about 0.17% of Allergan PLC. worth $139,963,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Howard Hughes Medical Institute acquired a new stake in shares of Allergan PLC. in the second quarter worth $103,000. Jacobi Capital Management LLC boosted its position in shares of 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 during the period. JNBA Financial Advisors boosted its position in shares of 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 during the period. Massey Quick & Co. LLC boosted its position in shares of Allergan PLC. by 334.8% in the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after buying an additional 385 shares during the period. Finally, Pacific Center for Financial Services boosted its position in shares of Allergan PLC. by 805.1% in the first quarter. Pacific Center for Financial Services now owns 534 shares of the company’s stock worth $128,000 after buying an additional 475 shares during the period. 82.04% of the stock is owned by institutional investors and hedge funds.
Shares of Allergan PLC. (NYSE AGN) opened at 204.08 on Friday. The firm has a 50 day moving average price of $216.44 and a 200-day moving average price of $232.29. The firm has a market cap of $68.23 billion, a PE ratio of 6.22 and a beta of 1.15. Allergan PLC. has a 12 month low of $184.50 and a 12 month high of $256.80.
Allergan PLC. (NYSE:AGN) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, topping 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 7.37%. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the business posted $3.35 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts predict that Allergan PLC. will post $16.21 EPS for the current fiscal year.
Allergan PLC. declared that its board has approved a share buyback program on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.37%. Allergan PLC.’s dividend payout ratio is 9.95%.
A number of research firms recently issued reports on AGN. Wells Fargo & Company set a $276.00 price objective on Allergan PLC. and gave the company a “buy” rating in a research report on Friday. Piper Jaffray Companies set a $227.00 price objective on Allergan PLC. and gave the company a “hold” rating in a research report on Friday. Cantor Fitzgerald set a $231.00 price objective on Allergan PLC. and gave the company a “hold” rating in a research report on Thursday. Cowen and Company reissued a “buy” rating on shares of Allergan PLC. in a research report on Thursday. Finally, Barclays PLC reissued an “equal weight” rating on shares of Allergan PLC. in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $271.44.
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Allergan PLC. 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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