Catalyst Capital Advisors LLC bought a new position in Allergan PLC. (NYSE:AGN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,330 shares of the company’s stock, valued at approximately $273,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of Allergan during the 1st quarter valued at about $124,255,000. Vanguard Group Inc. grew 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 acquiring an additional 482,220 shares during the last quarter. Blue Ridge Capital L.L.C. grew its position in Allergan by 24.1% during the 1st quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock worth $456,313,000 after acquiring an additional 370,400 shares during the last quarter. Northern Trust Corp grew its position in Allergan by 8.8% during the 2nd quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after acquiring an additional 364,722 shares during the last quarter. Finally, Eaton Vance Management grew its position in Allergan by 28.6% during the 2nd quarter. Eaton Vance Management now owns 1,579,147 shares of the company’s stock worth $383,875,000 after acquiring an additional 351,192 shares during the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.
Several research firms have weighed in on AGN. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 price objective (down previously from $277.00) on shares of Allergan 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 and gave the stock a “buy” rating in a report on Sunday, October 22nd. BidaskClub cut Allergan from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho restated a “buy” rating and issued a $267.00 target price on shares of Allergan in a research note on Monday, September 25th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $258.00 target price on shares of Allergan in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $235.25.
Shares of Allergan PLC. (AGN) traded down $3.13 on Thursday, hitting $164.87. The company had a trading volume of 2,904,649 shares, compared to its average volume of 2,934,881. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. Allergan PLC. has a one year low of $160.07 and a one year high of $256.80. The company has a market capitalization of $54,636.75, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.10 and a beta of 1.11.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the company posted $3.32 earnings per share. Allergan’s revenue was up 11.4% compared to the same quarter last year. research analysts anticipate that Allergan PLC. will post 16.28 earnings per share 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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, November 16th. Allergan’s payout ratio is currently -12.44%.
Allergan declared that its board has authorized a stock buyback plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider William Meury sold 11,807 shares of Allergan stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Chris W. Bodine bought 3,030 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were bought 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. Insiders purchased 17,630 shares of company stock valued at $2,890,057 in the last ninety days. 0.36% of the stock is currently owned by corporate 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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