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.
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.
ILLEGAL ACTIVITY WARNING: “Allergan plc (AGN) Holdings Trimmed by First Allied Advisory Services Inc.” was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/20/allergan-plc-agn-holdings-trimmed-by-first-allied-advisory-services-inc.html.
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.
Further Reading: Is a Roth IRA right for you?
Want to see what other hedge funds are holding AGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allergan plc (NYSE:AGN).
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.