Gladstone Capital Management LLP Makes New $3.10 Million Investment in Allergan plc (NYSE:AGN)

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Gladstone Capital Management LLP acquired a new position in shares of Allergan plc (NYSE:AGN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,523 shares of the company’s stock, valued at approximately $3,101,000. Allergan comprises about 0.9% of Gladstone Capital Management LLP’s portfolio, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AGN. Rational Advisors LLC raised its stake in shares of Allergan by 650.0% during the 2nd quarter. Rational Advisors LLC now owns 285 shares of the company’s stock worth $48,000 after purchasing an additional 247 shares during the period. Corient Capital Partners LLC raised its stake in shares of Allergan by 6.5% during the 2nd quarter. Corient Capital Partners LLC now owns 2,182 shares of the company’s stock worth $365,000 after purchasing an additional 134 shares during the period. Glassman Wealth Services raised its stake in shares of Allergan by 454.5% during the 2nd quarter. Glassman Wealth Services now owns 488 shares of the company’s stock worth $82,000 after purchasing an additional 400 shares during the period. Acadian Asset Management LLC raised its stake in shares of Allergan by 27.4% during the 2nd quarter. Acadian Asset Management LLC now owns 135,993 shares of the company’s stock worth $22,769,000 after purchasing an additional 29,285 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Allergan by 21.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,920 shares of the company’s stock worth $9,195,000 after purchasing an additional 9,810 shares during the period. 77.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Allergan stock opened at $159.94 on Wednesday. Allergan plc has a 52-week low of $114.27 and a 52-week high of $197.00. The firm has a 50-day moving average price of $163.66. The company has a market cap of $52.43 billion, a PE ratio of 9.58, a P/E/G ratio of 1.65 and a beta of 1.63. The company has a quick ratio of 1.49, a current ratio of 1.69 and a debt-to-equity ratio of 0.39.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the business posted $4.42 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts predict that Allergan plc will post 16.64 earnings per share for the current fiscal year.

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

A number of research firms have recently commented on AGN. Guggenheim cut Allergan from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. ValuEngine cut Allergan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a research note on Tuesday, June 25th. Goldman Sachs Group began coverage on Allergan in a research note on Tuesday, May 28th. They set a “neutral” rating and a $154.00 target price on the stock. Finally, SunTrust Banks lifted their target price on Allergan to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $180.00.

Allergan 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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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