Allergan plc (AGN) Position Raised by MAI Capital Management

MAI Capital Management boosted its position in shares of Allergan plc (NYSE:AGN) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,465 shares of the company’s stock after buying an additional 448 shares during the quarter. MAI Capital Management’s holdings in Allergan were worth $2,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Edgewood Management LLC raised its holdings in Allergan by 2.6% during the 2nd quarter. Edgewood Management LLC now owns 5,728,391 shares of the company’s stock valued at $955,037,000 after buying an additional 144,282 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Allergan by 16.3% during the 2nd quarter. Janus Henderson Group PLC now owns 4,778,699 shares of the company’s stock valued at $796,712,000 after buying an additional 668,343 shares during the last quarter. Northern Trust Corp raised its holdings in Allergan by 1.7% during the 2nd quarter. Northern Trust Corp now owns 4,163,556 shares of the company’s stock valued at $694,149,000 after buying an additional 69,651 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Allergan by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after buying an additional 99,490 shares during the last quarter. Finally, Parnassus Investments CA raised its holdings in Allergan by 3.1% during the 2nd quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock valued at $307,566,000 after buying an additional 55,029 shares during the last quarter. Institutional investors own 77.38% of the company’s stock.

Shares of NYSE AGN opened at $183.28 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85. Allergan plc has a 12 month low of $142.81 and a 12 month high of $207.24. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.47 and a beta of 1.19.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Thursday, July 26th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.13 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.92 billion. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. Allergan’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $4.02 EPS. Equities research analysts expect that Allergan plc will post 16.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 17th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.88 annualized dividend and a dividend yield of 1.57%. Allergan’s payout ratio is 17.61%.

A number of equities research analysts recently commented on AGN shares. Wells Fargo & Co set a $240.00 price target on shares of Allergan and gave the company a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded shares of Allergan from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Tuesday, July 17th. Credit Suisse Group set a $213.00 price target on shares of Allergan and gave the company a “buy” rating in a report on Friday, July 13th. Mizuho upgraded shares of Allergan from a “neutral” rating to a “buy” rating in a report on Friday, August 3rd. Finally, Deutsche Bank set a $210.00 price objective on shares of Allergan and gave the stock a “buy” rating in a report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $211.91.

In other Allergan news, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was bought at an average cost of $190.64 per share, for a total transaction of $1,906,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph H. Boccuzi purchased 900 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average price of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. 0.37% of the stock is owned by company insiders.

Allergan Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

Further Reading: Why is the ex-dividend date different from the record date?

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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