Penbrook Management LLC Cuts Holdings in Allergan plc (AGN)

Penbrook Management LLC decreased its holdings in shares of Allergan plc (NYSE:AGN) by 11.2% in the 1st quarter, Holdings Channel reports. The firm owned 3,876 shares of the company’s stock after selling 490 shares during the period. Penbrook Management LLC’s holdings in Allergan were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Liberty Wealth Management LLC lifted its holdings in Allergan by 108.8% during the 1st quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Investors Research Corp bought a new position in Allergan during the 1st quarter worth $29,000. JNBA Financial Advisors bought a new position in Allergan during the 4th quarter worth $30,000. Washington Trust Bank increased its position in Allergan by 166.7% during the 1st quarter. Washington Trust Bank now owns 240 shares of the company’s stock worth $35,000 after buying an additional 150 shares during the period. Finally, IMS Capital Management bought a new position in Allergan during the 3rd quarter worth $66,000. 80.65% of the stock is owned by institutional investors and hedge funds.

In other Allergan news, Chairman Brent L. Saunders bought 1,760 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average price of $143.67 per share, for a total transaction of $252,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Shares of NYSE AGN traded down $2.10 during mid-day trading on Wednesday, reaching $140.07. The company had a trading volume of 35,347 shares, compared to its average volume of 2,612,629. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.13. Allergan plc has a one year low of $125.84 and a one year high of $197.00. The stock has a market capitalization of $46.67 billion, a P/E ratio of 8.38, a PEG ratio of 1.29 and a beta of 1.34.

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

Allergan declared that its board has initiated a share buyback plan on Tuesday, January 29th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

AGN has been the topic of several recent research reports. Cantor Fitzgerald set a $180.00 price objective on Allergan and gave the stock a “hold” rating in a research report on Wednesday, December 26th. Mizuho lowered their price objective on Allergan to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, January 30th. Zacks Investment Research cut 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 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 Allergan from a “c” rating to a “d+” rating in a research report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $188.65.

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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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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