Yellowstone Partners LLC Buys Shares of 2,807 Allergan PLC. (AGN)
Yellowstone Partners LLC 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 2,807 shares of the company’s stock, valued at approximately $575,000.
Several other large investors have also added to or reduced their stakes in AGN. Edgewood Management LLC boosted its stake in Allergan by 24.3% in the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after purchasing an additional 869,248 shares in the last quarter. Baupost Group LLC MA boosted its stake in Allergan by 21.9% in the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after purchasing an additional 531,600 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Allergan by 4,852.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after purchasing an additional 492,930 shares in the last quarter. Vanguard Group Inc. boosted its stake in Allergan by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after purchasing an additional 482,220 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Allergan in the 3rd quarter worth about $92,182,000. 81.34% of the stock is currently owned by hedge funds and other institutional investors.
In other Allergan news, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were purchased at an average price of $163.30 per share, for a total transaction of $1,633,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Meury sold 11,807 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. Insiders have acquired a total of 17,630 shares of company stock worth $2,890,057 in the last 90 days. Company insiders own 0.36% of the company’s stock.
Allergan PLC. (NYSE:AGN) opened at $169.24 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The stock has a market cap of $57,161.05, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. Allergan PLC. has a one year low of $160.07 and a one year high of $256.80.
Allergan (NYSE:AGN) last posted its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.32 EPS. equities research analysts forecast that Allergan PLC. will post 16.27 earnings per share for the current fiscal year.
Allergan declared that its Board of Directors has authorized a stock buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The business 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 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, November 16th. Allergan’s dividend payout ratio is currently -12.44%.
AGN has been the topic of a number of analyst reports. J P Morgan Chase & Co set a $275.00 price target on shares of Allergan and gave the stock a “buy” rating in a research note on Sunday, October 22nd. Morgan Stanley cut shares of Allergan from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $284.00 to $228.00 in a research note on Wednesday, September 20th. Argus cut shares of Allergan from a “buy” rating to a “hold” rating and dropped their price target for the stock from $256.80 to $160.07 in a research note on Thursday, December 7th. Cowen reiterated an “outperform” rating and issued a $400.00 price target on shares of Allergan in a research note on Tuesday, August 29th. Finally, Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Allergan presently has an average rating of “Buy” and a consensus price target of $235.25.
ILLEGAL ACTIVITY NOTICE: “Yellowstone Partners LLC Buys Shares of 2,807 Allergan PLC. (AGN)” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.dailypolitical.com/2017/12/14/yellowstone-partners-llc-buys-shares-of-2807-allergan-plc-agn.html.
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.
Want to see what other hedge funds are holding AGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allergan PLC. (NYSE:AGN).
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.