Duncker Streett & Co. Inc. Cuts Position in Allergan plc (AGN)

Duncker Streett & Co. Inc. reduced its stake in shares of Allergan plc (NYSE:AGN) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,846 shares of the company’s stock after selling 2,157 shares during the period. Duncker Streett & Co. Inc.’s holdings in Allergan were worth $1,774,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AGN. Beach Investment Management LLC. raised its position in shares of Allergan by 845.2% during the 2nd quarter. Beach Investment Management LLC. now owns 93,195 shares of the company’s stock worth $22,655,000 after purchasing an additional 83,335 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Allergan by 3.2% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 4,223 shares of the company’s stock worth $1,027,000 after purchasing an additional 130 shares during the last quarter. Mayo Investment Advisers LLC raised its position in shares of Allergan by 67.1% during the 2nd quarter. Mayo Investment Advisers LLC now owns 29,440 shares of the company’s stock worth $7,157,000 after purchasing an additional 11,825 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of Allergan by 6.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 790 shares of the company’s stock worth $190,000 after purchasing an additional 48 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Allergan by 39.4% during the 2nd quarter. CIBC World Markets Inc. now owns 32,475 shares of the company’s stock worth $7,894,000 after purchasing an additional 9,175 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

In other Allergan news, Director Chris W. Bodine bought 3,030 shares of Allergan stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average price of $164.77 per share, for a total transaction of $499,253.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Meury sold 11,807 shares of Allergan stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. Insiders have purchased a total of 17,630 shares of company stock worth $2,890,057 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Allergan plc (NYSE:AGN) traded up $6.82 during trading hours on Tuesday, hitting $188.15. 5,269,300 shares of the company traded hands, compared to its average volume of 2,839,357. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. The firm has a market cap of $62,580.00, a price-to-earnings ratio of -8.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11. Allergan plc has a 1-year low of $160.07 and a 1-year high of $256.80.

Allergan (NYSE:AGN) last posted its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.32 EPS. equities research analysts forecast that Allergan plc will post 16.27 EPS for the current year.

Allergan declared that its board has authorized a stock buyback plan on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

AGN has been the subject of several research reports. Argus downgraded Allergan from a “buy” rating to a “hold” rating and cut their price objective for the stock from $256.80 to $160.07 in a research report on Thursday, December 7th. JPMorgan Chase & Co. set a $275.00 price objective on Allergan and gave the stock a “buy” rating in a research report on Sunday, October 22nd. Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Vetr cut shares of Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 target price for the company. in a research note on Wednesday, December 6th. Finally, Cantor Fitzgerald lowered their target price on shares of Allergan to $191.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $226.95.

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About Allergan

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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