Allergan plc (AGN) Holdings Trimmed by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. lessened its holdings in shares of Allergan plc (NYSE:AGN) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,482 shares of the company’s stock after selling 553 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Allergan were worth $805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Woodstock Corp grew its stake in Allergan by 0.5% during the 1st quarter. Woodstock Corp now owns 14,332 shares of the company’s stock valued at $2,098,000 after purchasing an additional 72 shares in the last quarter. Founders Financial Securities LLC lifted its holdings in Allergan by 1.8% during the 4th quarter. Founders Financial Securities LLC now owns 4,216 shares of the company’s stock worth $564,000 after buying an additional 75 shares during the last quarter. Wright Investors Service Inc. lifted its holdings in Allergan by 2.2% during the 4th quarter. Wright Investors Service Inc. now owns 3,862 shares of the company’s stock worth $516,000 after buying an additional 83 shares during the last quarter. CWM LLC lifted its holdings in Allergan by 31.4% during the 1st quarter. CWM LLC now owns 356 shares of the company’s stock worth $52,000 after buying an additional 85 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc lifted its holdings in Allergan by 2.1% during the 1st quarter. Nachman Norwood & Parrott Inc now owns 4,507 shares of the company’s stock worth $660,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.

AGN has been the topic of a number of research analyst reports. Bank of America set a $197.00 target price on Allergan and gave the stock a “buy” rating in a report on Thursday, March 7th. Jefferies Financial Group initiated coverage on Allergan in a report on Monday, April 15th. They set a “hold” rating and a $144.95 target price on the stock. Morgan Stanley downgraded Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 target price on the stock. in a report on Wednesday, January 30th. Leerink Swann set a $217.00 target price on Allergan and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, SunTrust Banks initiated coverage on Allergan in a report on Tuesday, March 19th. They set a “buy” rating and a $178.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Allergan currently has a consensus rating of “Hold” and an average target price of $184.52.

In related news, Chairman Brent L. Saunders purchased 1,760 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were acquired at an average price of $143.67 per share, with a total value of $252,859.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

Shares of NYSE AGN opened at $140.20 on Monday. The company has a market capitalization of $45.96 billion, a P/E ratio of 8.40, a P/E/G ratio of 1.28 and a beta of 1.32. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.55 by $0.24. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.55 billion. Allergan had a positive return on equity of 8.45% and a negative net margin of 45.94%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.74 EPS. On average, research analysts forecast that Allergan plc will post 16.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 14th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, May 13th. Allergan’s dividend payout ratio (DPR) is 17.74%.

Allergan announced that its Board of Directors has initiated a stock repurchase program on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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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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