US Bancorp DE cut its holdings in shares of Allergan plc (NYSE:AGN) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,878 shares of the company’s stock after selling 2,163 shares during the quarter. US Bancorp DE’s holdings in Allergan were worth $6,278,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of AGN. Oregon Public Employees Retirement Fund increased its holdings in shares of Allergan by 14,208.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock worth $155,000 after acquiring an additional 20,617,639 shares during the last quarter. Longview Partners Guernsey LTD boosted its stake in Allergan by 288.6% in the 4th quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock valued at $805,450,000 after purchasing an additional 4,475,447 shares during the period. Norges Bank bought a new stake in Allergan in the 4th quarter valued at $484,853,000. Janus Henderson Group PLC boosted its stake in Allergan by 27.6% in the 1st quarter. Janus Henderson Group PLC now owns 5,855,576 shares of the company’s stock valued at $857,312,000 after purchasing an additional 1,265,742 shares during the period. Finally, Ellis Investment Partners LLC boosted its stake in Allergan by 14,302.8% in the 1st quarter. Ellis Investment Partners LLC now owns 852,214 shares of the company’s stock valued at $852,000 after purchasing an additional 846,297 shares during the period. 80.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:AGN traded down $2.53 during trading on Monday, reaching $135.51. 2,156,247 shares of the company traded hands, compared to its average volume of 2,269,178. The company has a market cap of $44.42 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71. Allergan plc has a 52 week low of $125.84 and a 52 week high of $197.00.
Allergan announced that its board has authorized a share repurchase plan on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, May 13th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.18%. Allergan’s payout ratio is 17.74%.
In related news, Chairman Brent L. Saunders bought 1,760 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was purchased at an average cost of $143.67 per share, for a total transaction of $252,859.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.
Several analysts recently issued reports on AGN shares. Bank of America set a $197.00 price target on Allergan and gave the company a “buy” rating in a research note on Thursday, March 7th. Leerink Swann set a $217.00 price target on Allergan and gave the company a “buy” rating in a research note on Thursday, March 7th. Wells Fargo & Co restated a “buy” rating and issued a $189.00 price target (down from $202.00) on shares of Allergan in a research note on Thursday, March 7th. Mizuho reduced their price target on Allergan to $200.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. Finally, SunTrust Banks started coverage on Allergan in a research note on Tuesday, March 19th. They issued a “buy” rating and a $178.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $184.52.
Allergan Company Profile
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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