Gofen & Glossberg LLC IL cut its stake in Allergan plc (NYSE:AGN) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,672 shares of the company’s stock after selling 4,240 shares during the period. Gofen & Glossberg LLC IL’s holdings in Allergan were worth $2,587,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Allergan by 2.9% in the 4th quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock valued at $2,869,149,000 after buying an additional 600,535 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Allergan by 14,208.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock valued at $155,000 after buying an additional 20,617,639 shares during the last quarter. Longview Partners Guernsey LTD grew 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 buying an additional 4,475,447 shares during the last quarter. FMR LLC grew its stake in Allergan by 6.1% in the 4th quarter. FMR LLC now owns 4,253,740 shares of the company’s stock valued at $568,554,000 after buying an additional 245,322 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Allergan by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock valued at $533,767,000 after buying an additional 247,743 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.
In related news, Chairman Brent L. Saunders acquired 1,760 shares of the stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of $143.67 per share, for a total transaction of $252,859.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.08% of the company’s stock.
Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, January 29th. The company reported $4.29 earnings per share for the quarter, beating the consensus estimate of $4.15 by $0.14. The firm 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 company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.86 EPS. As a group, research analysts expect that Allergan plc will post 16.38 earnings per share for the current year.
Allergan announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 14th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 2.03%. Allergan’s payout ratio is presently 17.74%.
A number of research analysts recently issued reports on AGN shares. Mizuho lowered their target price on shares of Allergan to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, January 30th. Credit Suisse Group reduced their price target on shares of Allergan from $200.00 to $197.00 and set an “outperform” rating for the company in a report on Tuesday, January 8th. TheStreet downgraded shares of Allergan from a “c” rating to a “d+” rating in a report on Tuesday, January 29th. Wells Fargo & Co reissued a “buy” rating and issued a $189.00 price target (down from $202.00) on shares of Allergan in a report on Thursday, March 7th. Finally, Morgan Stanley downgraded shares of Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 price target for the company. in a report on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $188.05.
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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