Security Asset Management Increases Stake in Allergan PLC. (AGN)
Security Asset Management boosted its holdings in Allergan PLC. (NYSE:AGN) by 16.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,513 shares of the company’s stock after buying an additional 1,365 shares during the period. Allergan PLC. makes up about 1.5% of Security Asset Management’s investment portfolio, making the stock its 27th biggest position. Security Asset Management’s holdings in Allergan PLC. were worth $1,950,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Honeywell International Inc. lifted its holdings in Allergan PLC. by 13.6% in the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock valued at $40,871,000 after buying an additional 20,100 shares during the period. Israel Discount Bank of New York acquired a new position in Allergan PLC. in the first quarter valued at approximately $988,000. Sumitomo Life Insurance Co. lifted its holdings in Allergan PLC. by 39.0% in the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock valued at $3,099,000 after buying an additional 4,244 shares during the period. Colony Group LLC lifted its holdings in Allergan PLC. by 9.9% in the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock valued at $9,675,000 after buying an additional 3,577 shares during the period. Finally, Palladium Partners LLC increased its stake in Allergan PLC. by 1.7% in the second quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock valued at $7,575,000 after purchasing an additional 523 shares in the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.
Several equities research analysts have commented on AGN shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $285.00 target price on shares of Allergan PLC. in a research note on Wednesday, September 6th. Credit Suisse Group set a $243.00 price objective on shares of Allergan PLC. and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. Citigroup Inc. lowered their price objective on shares of Allergan PLC. from $280.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, October 19th. Cantor Fitzgerald set a $231.00 price objective on shares of Allergan PLC. and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, BidaskClub downgraded shares of Allergan PLC. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $246.73.
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Allergan PLC. (NYSE:AGN) traded up $1.51 during mid-day trading on Monday, reaching $173.72. 1,398,177 shares of the company’s stock traded hands, compared to its average volume of 2,918,937. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Allergan PLC. has a 52-week low of $169.64 and a 52-week high of $256.80. The company has a market cap of $57,270.00, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.09 and a beta of 1.12.
Allergan PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the consensus estimate of $4.06 by $0.09. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the firm earned $3.32 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. equities research analysts forecast that Allergan PLC. will post 16.28 EPS for the current fiscal year.
Allergan PLC. declared that its board has approved a stock repurchase plan on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, November 16th. Allergan PLC.’s dividend payout ratio is currently -12.39%.
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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