Allergan PLC. (AGN) Stake Lowered by Cetera Investment Advisers
Cetera Investment Advisers lessened its holdings in Allergan PLC. (NYSE:AGN) by 44.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,096 shares of the company’s stock after selling 2,471 shares during the period. Cetera Investment Advisers’ holdings in Allergan were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in AGN. Vanguard Group Inc. raised its holdings in shares of Allergan by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after buying an additional 482,220 shares during the period. Northern Trust Corp raised its holdings in shares of Allergan by 8.8% in the 2nd quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock valued at $1,092,189,000 after buying an additional 364,722 shares during the period. Edgewood Management LLC raised its holdings in shares of Allergan by 24.3% in the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after buying an additional 869,248 shares during the period. Baupost Group LLC MA raised its holdings in shares of Allergan by 21.9% in the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after buying an additional 531,600 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Allergan by 1.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock valued at $370,060,000 after buying an additional 17,068 shares during the period. 81.34% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider William Meury sold 11,807 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Chris W. Bodine acquired 3,030 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average price of $164.77 per share, for a total transaction of $499,253.10. The disclosure for this purchase can be found here. In the last quarter, insiders bought 17,630 shares of company stock worth $2,890,057. Company insiders own 0.36% of the company’s stock.
Several equities research analysts recently issued reports on the company. Wells Fargo & Company reiterated an “outperform” rating on shares of Allergan in a report on Monday, September 11th. Deutsche Bank reiterated a “buy” rating and issued a $262.00 price objective on shares of Allergan in a report on Tuesday, September 12th. BidaskClub downgraded Allergan from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Cantor Fitzgerald reiterated a “hold” rating on shares of Allergan in a report on Tuesday, August 29th. Finally, Cowen reiterated an “outperform” rating and issued a $400.00 price objective on shares of Allergan in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $235.25.
Shares of Allergan PLC. (NYSE AGN) opened at $170.94 on Friday. 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 1-year low of $160.07 and a 1-year high of $256.80. The firm has a market capitalization of $56,286.37, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11.
Allergan (NYSE:AGN) last released its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the business posted $3.32 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. equities analysts expect that Allergan PLC. will post 16.27 earnings per share for the current year.
Allergan declared that its board has approved a share repurchase plan on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.64%. Allergan’s payout ratio is currently -12.44%.
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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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