Allergan plc (AGN) Position Lifted by Todd Asset Management LLC

Todd Asset Management LLC lifted its stake in Allergan plc (NYSE:AGN) by 32.4% during the first quarter, HoldingsChannel reports. The fund owned 119,835 shares of the company’s stock after acquiring an additional 29,342 shares during the quarter. Todd Asset Management LLC’s holdings in Allergan were worth $17,546,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Nomura Holdings Inc. raised its stake in shares of Allergan by 9.2% in the 4th quarter. Nomura Holdings Inc. now owns 30,522 shares of the company’s stock valued at $4,074,000 after acquiring an additional 2,580 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Allergan by 21.1% in the 4th quarter. American Century Companies Inc. now owns 1,235,389 shares of the company’s stock valued at $165,122,000 after acquiring an additional 214,955 shares in the last quarter. Institute for Wealth Management LLC. bought a new position in shares of Allergan in the 4th quarter valued at approximately $716,000. Duality Advisers LP bought a new position in shares of Allergan in the 4th quarter valued at approximately $13,282,000. Finally, Gradient Investments LLC raised its stake in shares of Allergan by 77.4% in the 4th quarter. Gradient Investments LLC now owns 1,203 shares of the company’s stock valued at $161,000 after acquiring an additional 525 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman Brent L. Saunders acquired 1,760 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were bought at an average price of $143.67 per share, with a total value of $252,859.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Several brokerages have commented on AGN. ValuEngine raised Allergan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. Royal Bank of Canada dropped their price target on Allergan from $165.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 8th. UBS Group dropped their price target on Allergan from $173.00 to $172.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Mizuho reaffirmed a “buy” rating and issued a $194.00 price target on shares of Allergan in a research report on Wednesday, April 24th. Finally, Raymond James dropped their price target on Allergan from $181.00 to $166.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $184.52.

Shares of NYSE:AGN traded down $0.56 during trading on Tuesday, hitting $138.22. 647,557 shares of the stock were exchanged, compared to its average volume of 2,541,640. Allergan plc has a 1-year low of $125.84 and a 1-year high of $197.00. The firm has a market capitalization of $45.45 billion, a PE ratio of 8.28, a PEG ratio of 1.28 and a beta of 1.32. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32.

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

Allergan announced that its Board of Directors has authorized a stock buyback program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Monday, May 13th. Allergan’s payout ratio is presently 17.74%.

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About Allergan

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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