Clearbridge LLC grew its holdings in Allergan plc (NYSE:AGN) by 37.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 696,900 shares of the company’s stock after acquiring an additional 189,190 shares during the quarter. Allergan accounts for approximately 2.4% of Clearbridge LLC’s holdings, making the stock its 6th largest holding. Clearbridge LLC’s holdings in Allergan were worth $113,999,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of AGN. Ironvine Capital Partners LLC purchased a new stake in shares of Allergan in the fourth quarter valued at approximately $6,595,000. Swedbank increased its position in shares of Allergan by 110.7% during the fourth quarter. Swedbank now owns 740,016 shares of the company’s stock worth $121,052,000 after purchasing an additional 388,867 shares in the last quarter. Lumina Fund Management LLC acquired a new position in Allergan during the fourth quarter worth $2,699,000. Sands Capital Management LLC boosted its stake in Allergan by 435.3% during the fourth quarter. Sands Capital Management LLC now owns 30,073 shares of the company’s stock worth $4,919,000 after buying an additional 24,455 shares during the last quarter. Finally, Weil Company Inc. acquired a new position in Allergan during the fourth quarter worth $1,126,000. 81.39% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Matthew M. Walsh bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average price of $160.94 per share, with a total value of $321,880.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William Meury sold 58,879 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $160.62, for a total value of $9,457,144.98. The disclosure for this sale can be found here. In the last three months, insiders have purchased 7,200 shares of company stock worth $1,108,267. 0.36% of the stock is owned by corporate insiders.
Allergan (NYSE:AGN) last posted its earnings results on Tuesday, February 6th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.74 by $0.12. Allergan had a positive return on equity of 8.43% and a negative net margin of 26.32%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the company earned $3.90 EPS. Allergan’s revenue was up 12.0% on a year-over-year basis. sell-side analysts expect that Allergan plc will post 15.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.72 per share. This is a positive change from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.83%. Allergan’s dividend payout ratio is presently -21.46%.
A number of equities analysts have weighed in on AGN shares. Royal Bank of Canada set a $218.00 price objective on Allergan and gave the stock a “buy” rating in a research note on Thursday, January 4th. Credit Suisse Group set a $214.00 price objective on Allergan and gave the stock a “buy” rating in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Vetr lowered Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price objective on the stock. in a research note on Wednesday, December 6th. Morgan Stanley set a $200.00 price objective on Allergan and gave the stock a “buy” rating in a research note on Wednesday, December 6th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have given 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 $225.03.
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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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