Allergan plc (AGN) Shares Sold by Arvest Bank Trust Division
Arvest Bank Trust Division lowered its stake in shares of Allergan plc (NYSE:AGN) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 55,910 shares of the company’s stock after selling 2,929 shares during the quarter. Arvest Bank Trust Division’s holdings in Allergan were worth $9,146,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of AGN. Edgewood Management LLC increased its stake in shares of Allergan by 24.3% during the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after acquiring an additional 869,248 shares during the last quarter. Baupost Group LLC MA increased its position in Allergan by 21.9% during 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. increased its position in Allergan by 4,852.6% during 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. increased its position in Allergan by 2.2% during 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. acquired a new stake in Allergan during the 3rd quarter worth approximately $92,182,000. 81.18% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price (down previously from $277.00) on shares of Allergan in a research report on Thursday, October 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $275.00 target price on shares of Allergan and gave the stock a “buy” rating in a research report on Sunday, October 22nd. Wells Fargo & Co set a $245.00 target price on shares of Allergan and gave the stock a “buy” rating in a research report on Friday, January 5th. Credit Suisse Group set a $214.00 target price on shares of Allergan and gave the stock a “buy” rating in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Mizuho reissued a “buy” rating and set a $267.00 target price on shares of Allergan in a research report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Allergan currently has an average rating of “Hold” and an average price target of $226.95.
Allergan (NYSE:AGN) last released its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. Allergan’s quarterly revenue 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 analysts anticipate that Allergan plc will post 16.27 EPS for the current fiscal year.
Allergan declared that its board has authorized a share buyback program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Chris W. Bodine purchased 3,030 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was purchased at an average price of $164.77 per share, for a total transaction of $499,253.10. 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 company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 17,630 shares of company stock valued at $2,890,057. 0.36% of the stock is owned by company insiders.
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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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