Wetherby Asset Management Inc. Cuts Position in Allergan plc (NYSE:AGN)

Wetherby Asset Management Inc. lessened its stake in Allergan plc (NYSE:AGN) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,639 shares of the company’s stock after selling 238 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Allergan were worth $2,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wesbanco Bank Inc. increased its holdings in Allergan by 6.8% during the 1st quarter. Wesbanco Bank Inc. now owns 4,950 shares of the company’s stock valued at $725,000 after acquiring an additional 316 shares in the last quarter. Fulton Bank N.A. increased its holdings in Allergan by 19.9% during the 2nd quarter. Fulton Bank N.A. now owns 14,220 shares of the company’s stock valued at $2,381,000 after acquiring an additional 2,360 shares in the last quarter. Private Management Group Inc. increased its holdings in Allergan by 1.6% during the 1st quarter. Private Management Group Inc. now owns 262,314 shares of the company’s stock valued at $38,405,000 after acquiring an additional 4,158 shares in the last quarter. Cetera Investment Advisers purchased a new position in Allergan during the 1st quarter valued at about $233,000. Finally, Marshall Wace North America L.P. purchased a new position in Allergan during the 1st quarter valued at about $452,000. Institutional investors and hedge funds own 79.95% of the company’s stock.

Shares of Allergan stock traded down $0.80 during mid-day trading on Monday, hitting $160.22. 252,912 shares of the stock were exchanged, compared to its average volume of 5,049,469. Allergan plc has a twelve month low of $114.27 and a twelve month high of $197.00. The company has a market cap of $52.78 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 1.51 and a beta of 1.63. The stock has a 50-day moving average of $155.74. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.55 by $0.24. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the company earned $3.74 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Allergan plc will post 16.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 13th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.96 annualized dividend and a dividend yield of 1.85%. Allergan’s dividend payout ratio is currently 17.74%.

AGN has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on shares of Allergan in a report on Tuesday, May 28th. They set a “neutral” rating and a $154.00 target price for the company. UBS Group dropped their target price on shares of Allergan from $173.00 to $172.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Leerink Swann downgraded shares of Allergan from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $217.00 to $188.00 in a report on Thursday, July 18th. Mizuho downgraded shares of Allergan from a “buy” rating to a “neutral” rating and raised their target price for the company from $171.00 to $188.00 in a report on Wednesday, June 26th. Finally, ValuEngine downgraded shares of Allergan from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company. Allergan presently has a consensus rating of “Hold” and a consensus target price of $175.48.

About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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