Altavista Wealth Management Inc. boosted its holdings in shares of Allergan PLC. (NYSE:AGN) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,630 shares of the company’s stock after acquiring an additional 525 shares during the period. Allergan PLC. accounts for approximately 2.0% of Altavista Wealth Management Inc.’s investment portfolio, making the stock its 18th biggest position. Altavista Wealth Management Inc.’s holdings in Allergan PLC. were worth $4,043,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in AGN. Howard Hughes Medical Institute purchased a new stake in shares of Allergan PLC. in the 2nd quarter valued at approximately $103,000. Jacobi Capital Management LLC grew its stake in shares of Allergan PLC. by 4.9% in the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock valued at $112,000 after buying an additional 22 shares during the period. JNBA Financial Advisors grew its stake in shares of Allergan PLC. by 2.5% in the 1st quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock valued at $116,000 after buying an additional 12 shares during the period. Massey Quick & Co. LLC grew its stake in shares of Allergan PLC. by 334.8% in the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after buying an additional 385 shares during the period. Finally, Pacific Center for Financial Services grew its stake in shares of Allergan PLC. by 805.1% in the 1st quarter. Pacific Center for Financial Services now owns 534 shares of the company’s stock valued at $128,000 after buying an additional 475 shares during the period. 82.04% of the stock is owned by institutional investors.
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AGN has been the subject of several analyst reports. Zacks Investment Research raised shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Tuesday, July 11th. Credit Suisse Group set a $288.00 price objective on shares of Allergan PLC. and gave the stock a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada set a $285.00 price objective on shares of Allergan PLC. and gave the stock a “buy” rating in a report on Thursday, August 3rd. Deutsche Bank AG restated a “buy” rating and issued a $278.00 price objective (up from $273.00) on shares of Allergan PLC. in a report on Wednesday, August 9th. Finally, Mizuho restated a “buy” rating and issued a $267.00 price objective on shares of Allergan PLC. in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Allergan PLC. currently has an average rating of “Hold” and an average target price of $252.39.
Shares of Allergan PLC. (NYSE AGN) traded up 1.37% during midday trading on Friday, hitting $178.75. 3,365,740 shares of the stock were exchanged. Allergan PLC. has a 12-month low of $175.21 and a 12-month high of $256.80. The firm has a 50 day moving average of $208.20 and a 200 day moving average of $229.12. The firm has a market cap of $59.76 billion, a P/E ratio of 5.45 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last announced its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.95 by $0.07. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $3.35 earnings per share. Equities analysts forecast that Allergan PLC. will post $16.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.59%. Allergan PLC.’s payout ratio is 9.95%.
Allergan PLC. declared that its board has initiated a stock buyback program on Monday, September 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Allergan PLC. Company 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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