Allergan PLC. (AGN) Holdings Trimmed by 683 Capital Management LLC

683 Capital Management LLC lessened its holdings in Allergan PLC. (NYSE:AGN) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,000 shares of the company’s stock after selling 20,000 shares during the quarter. Allergan accounts for approximately 1.3% of 683 Capital Management LLC’s holdings, making the stock its 12th largest holding. 683 Capital Management LLC’s holdings in Allergan were worth $12,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pathstone Family Office LLC lifted its holdings in shares of Allergan by 3,327.3% during the second quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock worth $2,035,000 after purchasing an additional 366 shares during the period. Howard Hughes Medical Institute acquired a new stake in shares of Allergan during the second quarter worth about $103,000. Massey Quick & Co. LLC lifted its holdings in shares of Allergan by 334.8% during the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after purchasing an additional 385 shares during the period. Cable Hill Partners LLC lifted its holdings in shares of Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after purchasing an additional 370 shares during the period. Finally, Pacific Center for Financial Services lifted its holdings in shares of Allergan by 1.3% during the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after purchasing an additional 7 shares during the period. 81.34% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently commented on AGN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price (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 target price on Allergan and gave the stock a “buy” rating in a report on Sunday, October 22nd. BidaskClub downgraded Allergan from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Mizuho reaffirmed a “buy” rating and set a $267.00 target price on shares of Allergan in a report on Monday, September 25th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $258.00 target price on shares of Allergan in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $235.25.

In other Allergan news, Director Chris W. Bodine acquired 3,030 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $164.77 per share, for a total transaction of $499,253.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Meury sold 11,807 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were 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. Insiders bought 17,630 shares of company stock valued at $2,890,057 over the last 90 days. Company insiders own 0.36% of the company’s stock.

Allergan PLC. (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. The firm has a market capitalization of $56,286.37, a P/E ratio of 10.98, a P/E/G ratio of 1.13 and a beta of 1.11. Allergan PLC. has a 12-month low of $160.07 and a 12-month high of $256.80.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.09. The company 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% on a year-over-year basis. During the same period last year, the business earned $3.32 earnings per share. equities analysts predict that Allergan PLC. will post 16.27 EPS for the current year.

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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is presently -12.44%.

Allergan announced that its board has approved a share buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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Allergan 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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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