Berson & Corrado Investment Advisors LLC reduced its stake in shares of Allergan plc (NYSE:AGN) by 60.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,419 shares of the company’s stock after selling 16,209 shares during the quarter. Berson & Corrado Investment Advisors LLC’s holdings in Allergan were worth $1,704,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Howard Hughes Medical Institute purchased a new position in Allergan during the second quarter valued at approximately $103,000. Cable Hill Partners LLC raised its position in Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after acquiring an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. raised its position in Allergan by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after acquiring an additional 400 shares in the last quarter. Massey Quick & Co. LLC raised its position in Allergan by 334.8% during the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after acquiring an additional 385 shares in the last quarter. Finally, Pacific Center for Financial Services raised its position in Allergan by 1.3% during the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock valued at $132,000 after acquiring an additional 7 shares in the last quarter. Institutional investors own 81.14% of the company’s stock.
Shares of Allergan plc (NYSE AGN) traded down $1.66 on Wednesday, reaching $173.99. The company’s stock had a trading volume of 2,119,195 shares, compared to its average volume of 3,020,000. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. Allergan plc has a one year low of $160.07 and a one year high of $256.80. The firm has a market capitalization of $58,420.00, a price-to-earnings ratio of -7.70, a P/E/G ratio of 1.18 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, beating the consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $3.32 earnings per share. analysts anticipate that Allergan plc will post 16.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, November 16th. Allergan’s dividend payout ratio is presently -12.39%.
Allergan announced that its Board of Directors has initiated a share buyback program on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts recently weighed in on the company. ValuEngine cut Allergan from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Citigroup reduced their price target on Allergan to $215.00 and set a “buy” rating for the company in a research report on Tuesday. Vetr cut Allergan from a “buy” rating to a “hold” rating and set a $180.97 price target for the company. in a research report on Wednesday. Royal Bank of Canada set a $218.00 price target on Allergan and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Co set a $245.00 price target on Allergan and gave the company a “buy” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Allergan currently has an average rating of “Hold” and a consensus target price of $227.22.
In other news, insider William Meury sold 11,807 shares of Allergan 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Brent L. Saunders purchased 4,600 shares of the stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average cost of $164.74 per share, for a total transaction of $757,804.00. The disclosure for this purchase can be found here. Insiders bought 17,630 shares of company stock worth $2,890,057 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.
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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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