Allergan plc (AGN) Stake Lessened by Newport Trust Co

Newport Trust Co decreased its position in Allergan plc (NYSE:AGN) by 3.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,322,609 shares of the company’s stock after selling 53,824 shares during the period. Allergan accounts for about 0.6% of Newport Trust Co’s investment portfolio, making the stock its 18th biggest position. Newport Trust Co owned approximately 0.39% of Allergan worth $220,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Summit Trail Advisors LLC increased its position in shares of Allergan by 13,646.4% during the first quarter. Summit Trail Advisors LLC now owns 1,199,371 shares of the company’s stock worth $1,199,000 after purchasing an additional 1,190,646 shares in the last quarter. Edgewood Management LLC increased its position in shares of Allergan by 24.3% during the first quarter. Edgewood Management LLC now owns 5,584,109 shares of the company’s stock worth $939,750,000 after purchasing an additional 1,092,584 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Allergan by 255.9% during the first quarter. Toronto Dominion Bank now owns 510,212 shares of the company’s stock worth $85,854,000 after purchasing an additional 366,848 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Allergan during the first quarter worth $58,886,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Allergan in the 1st quarter valued at $54,342,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.

Several equities analysts recently issued reports on the company. Cantor Fitzgerald set a $180.00 target price on Allergan and gave the company a “hold” rating in a research report on Monday, August 6th. Mizuho raised shares of Allergan from a “neutral” rating to a “buy” rating in a report on Friday, August 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $164.00 price target on shares of Allergan in a report on Thursday, July 26th. Zacks Investment Research lowered shares of Allergan from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Credit Suisse Group set a $213.00 price target on shares of Allergan and gave the company a “buy” rating in a report on Friday, July 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. Allergan currently has a consensus rating of “Buy” and an average target price of $209.48.

Allergan stock traded down $0.06 during midday trading on Friday, reaching $184.00. The company had a trading volume of 1,391,795 shares, compared to its average volume of 1,714,045. The firm has a market capitalization of $62.48 billion, a PE ratio of 10.72, a P/E/G ratio of 1.38 and a beta of 1.16. Allergan plc has a 12-month low of $142.81 and a 12-month high of $237.41. The company has a current ratio of 1.00, a quick ratio of 1.12 and a debt-to-equity ratio of 0.34.

Allergan (NYSE:AGN) last issued its quarterly earnings results on Thursday, July 26th. The company reported $4.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.13 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.92 billion. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. Allergan’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $4.02 EPS. sell-side analysts predict that Allergan plc will post 16.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 17th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, August 16th. Allergan’s dividend payout ratio is presently 17.61%.

In related news, EVP William Meury sold 24,425 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $154.59, for a total value of $3,775,860.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.36% of the company’s stock.

Allergan Company Profile

Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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