Columbia Partners L L C Investment Management Buys Shares of 5,357 Allergan PLC. (AGN)
Columbia Partners L L C Investment Management bought a new position in Allergan PLC. (NYSE:AGN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,357 shares of the company’s stock, valued at approximately $1,097,000.
Several other large investors have also added to or reduced their stakes in the company. Iridian Asset Management LLC CT grew its position in shares of Allergan PLC. by 11.8% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,633,949 shares of the company’s stock worth $334,878,000 after buying an additional 172,571 shares during the period. Macquarie Group Ltd. grew its position in shares of Allergan PLC. by 2.3% in the 3rd quarter. Macquarie Group Ltd. now owns 589,282 shares of the company’s stock worth $120,773,000 after buying an additional 13,512 shares during the period. Ninepoint Partners LP purchased a new stake in shares of Allergan PLC. in the 3rd quarter worth about $1,075,000. Commonwealth Equity Services Inc grew its position in shares of Allergan PLC. by 6.9% in the 3rd quarter. Commonwealth Equity Services Inc now owns 45,559 shares of the company’s stock worth $9,337,000 after buying an additional 2,949 shares during the period. Finally, Motco grew its position in shares of Allergan PLC. by 1.9% in the 3rd quarter. Motco now owns 18,349 shares of the company’s stock worth $3,760,000 after buying an additional 347 shares during the period. 81.21% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on AGN. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price objective (down from $277.00) on shares of Allergan PLC. in a research report on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 price objective on shares of Allergan PLC. and gave the company a “buy” rating in a research report on Sunday, October 22nd. BidaskClub downgraded shares of Allergan PLC. from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Mizuho reissued a “buy” rating and set a $267.00 price objective on shares of Allergan PLC. in a research report on Monday, September 25th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $258.00 price objective on shares of Allergan PLC. in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $246.73.
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Shares of Allergan PLC. (NYSE AGN) traded up $0.07 during trading hours on Friday, hitting $174.88. 2,802,315 shares of the stock traded hands, compared to its average volume of 4,493,581. Allergan PLC. has a 52-week low of $169.61 and a 52-week high of $256.80. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The company has a market cap of $58,162.12, a PE ratio of 11.34, a PEG ratio of 1.11 and a beta of 1.13.
Allergan PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the business earned $3.32 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. equities analysts forecast that Allergan PLC. will post 16.28 earnings per share for the current year.
Allergan PLC. announced that its board has approved a share repurchase program on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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 paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, November 16th. Allergan PLC.’s payout ratio is -12.44%.
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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