Sand Hill Global Advisors LLC trimmed its holdings in Allergan plc (NYSE:AGN) by 8.8% in the fourth quarter, Holdings Channel reports. The fund owned 13,513 shares of the company’s stock after selling 1,310 shares during the period. Sand Hill Global Advisors LLC’s holdings in Allergan were worth $2,210,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. First Interstate Bank lifted its holdings in shares of Allergan by 58.2% in the 4th quarter. First Interstate Bank now owns 4,063 shares of the company’s stock worth $665,000 after acquiring an additional 1,495 shares during the last quarter. Aevitas Wealth Management Inc. purchased a new position in shares of Allergan in the fourth quarter worth $408,000. Amalgamated Bank increased its stake in shares of Allergan by 9.7% in the fourth quarter. Amalgamated Bank now owns 42,285 shares of the company’s stock worth $6,917,000 after buying an additional 3,735 shares during the period. Ascend Capital LLC purchased a new position in shares of Allergan in the fourth quarter worth $4,805,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Allergan in the fourth quarter worth $3,272,000. Hedge funds and other institutional investors own 79.66% of the company’s stock.
Several brokerages recently commented on AGN. Credit Suisse Group set a $214.00 target price on shares of Allergan and gave the stock a “buy” rating in a research note on Monday, January 22nd. Vetr downgraded shares of Allergan from a “hold” rating to a “sell” rating and set a $180.97 target price on the stock. in a research note on Monday, January 22nd. Morgan Stanley reaffirmed a “buy” rating on shares of Allergan in a research note on Wednesday, January 24th. Barclays raised shares of Allergan from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $220.00 to $230.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Allergan from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $225.94.
Allergan (NYSE:AGN) last released its earnings results on Tuesday, February 6th. The company reported $4.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.12. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.28 billion. Allergan had a negative net margin of 26.32% and a positive return on equity of 8.43%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.90 EPS. research analysts anticipate that Allergan plc will post 15.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This is an increase from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.87%. Allergan’s dividend payout ratio is currently -24.02%.
In other news, insider William Meury sold 58,879 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total value of $9,457,144.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew M. Walsh bought 2,000 shares of Allergan stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of $160.94 per share, for a total transaction of $321,880.00. The disclosure for this purchase can be found here. Insiders bought a total of 19,630 shares of company stock worth $3,211,937 over the last ninety days. Insiders own 0.36% of the company’s stock.
Allergan Company 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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