Allergan plc (NYSE:AGN) Stake Decreased by Advisory Services Network LLC

Advisory Services Network LLC trimmed its holdings in Allergan plc (NYSE:AGN) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,511 shares of the company’s stock after selling 3,448 shares during the period. Advisory Services Network LLC’s holdings in Allergan were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Founders Financial Securities LLC grew its stake in shares of Allergan by 1.8% in the fourth quarter. Founders Financial Securities LLC now owns 4,216 shares of the company’s stock worth $564,000 after purchasing an additional 75 shares during the last quarter. Vigilant Capital Management LLC boosted its position in Allergan by 16.2% during the fourth quarter. Vigilant Capital Management LLC now owns 581 shares of the company’s stock valued at $78,000 after acquiring an additional 81 shares during the last quarter. Wright Investors Service Inc. raised its holdings in shares of Allergan by 2.2% during the fourth quarter. Wright Investors Service Inc. now owns 3,862 shares of the company’s stock valued at $516,000 after purchasing an additional 83 shares during the period. OLD Second National Bank of Aurora raised its holdings in shares of Allergan by 1.4% during the fourth quarter. OLD Second National Bank of Aurora now owns 5,962 shares of the company’s stock valued at $797,000 after purchasing an additional 84 shares during the period. Finally, Pitcairn Co. raised its holdings in shares of Allergan by 5.0% during the fourth quarter. Pitcairn Co. now owns 2,095 shares of the company’s stock valued at $280,000 after purchasing an additional 99 shares during the period. Institutional investors own 80.65% of the company’s stock.

Allergan stock traded up $0.28 during trading hours on Friday, hitting $140.31. The stock had a trading volume of 2,107,915 shares, compared to its average volume of 1,915,427. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market capitalization of $46.67 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00.

Allergan (NYSE:AGN) last issued its earnings results on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $0.14. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4 billion. Allergan had a negative net margin of 32.28% and a positive return on equity of 8.18%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.86 earnings per share. As a group, equities research analysts forecast that Allergan plc will post 16.37 EPS for the current fiscal year.

Allergan declared that its board has authorized a stock 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

In related news, Chairman Brent L. Saunders acquired 1,760 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was purchased at an average cost of $143.67 per share, with a total value of $252,859.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by insiders.

AGN has been the topic of several recent analyst reports. Cantor Fitzgerald set a $180.00 target price on shares of Allergan and gave the stock a “hold” rating in a research note on Wednesday, December 26th. Mizuho lowered their price objective on shares of Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Credit Suisse Group lowered their price objective on shares of Allergan from $200.00 to $197.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 8th. Finally, TheStreet cut shares of Allergan from a “c” rating to a “d+” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $188.95.

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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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