Polaris Capital Management LLC grew its position in Allergan PLC. (NYSE:AGN) by 20.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,519 shares of the company’s stock after purchasing an additional 16,775 shares during the period. Polaris Capital Management LLC’s holdings in Allergan PLC. were worth $24,435,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Honeywell International Inc. grew its holdings in Allergan PLC. by 13.6% during the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after acquiring an additional 20,100 shares during the period. Israel Discount Bank of New York acquired a new stake in Allergan PLC. during the first quarter worth about $988,000. Palladium Partners LLC grew its holdings in Allergan PLC. by 1.7% during the second quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock worth $7,575,000 after acquiring an additional 523 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Allergan PLC. during the second quarter worth about $41,345,000. Finally, Aviva PLC grew its holdings in Allergan PLC. by 2.4% during the second quarter. Aviva PLC now owns 287,455 shares of the company’s stock worth $69,892,000 after acquiring an additional 6,722 shares during the period. 82.04% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Allergan PLC. (NYSE:AGN) traded up 1.41% during mid-day trading on Friday, reaching $178.82. The company’s stock had a trading volume of 3,836,922 shares. Allergan PLC. has a 52 week low of $175.21 and a 52 week high of $256.80. The firm has a market capitalization of $59.78 billion, a PE ratio of 5.45 and a beta of 1.15. The firm has a 50-day moving average of $208.20 and a 200-day moving average of $229.12.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.07. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. Allergan PLC.’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.35 earnings per share. Equities research analysts forecast that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.57%. Allergan PLC.’s dividend payout ratio is currently 9.95%.
Allergan PLC. announced that its Board of Directors has authorized a share repurchase plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages have commented on AGN. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price objective (down from $277.00) on shares of Allergan PLC. in a 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 Allergan PLC. and gave the company a “buy” rating in a report on Sunday, October 22nd. BidaskClub downgraded Allergan PLC. from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Mizuho restated a “buy” rating and issued a $267.00 target price on shares of Allergan PLC. in a research report on Monday, September 25th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $258.00 target price on shares of Allergan PLC. in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $252.39.
About Allergan PLC.
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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