M&T Bank Corp Raises Position in Allergan PLC (AGN)
M&T Bank Corp boosted its stake in shares of Allergan PLC (NYSE:AGN) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,296 shares of the company’s stock after buying an additional 3,252 shares during the period. M&T Bank Corp’s holdings in Allergan PLC were worth $19,875,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Barnett & Company Inc. bought a new stake in Allergan PLC during the first quarter valued at about $111,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Allergan PLC during the second quarter valued at about $125,000. Trust Co. of Vermont increased its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock valued at $126,000 after buying an additional 89 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Allergan PLC by 68.7% in the third quarter. Carroll Financial Associates Inc. now owns 555 shares of the company’s stock valued at $127,000 after buying an additional 226 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock valued at $137,000 after buying an additional 154 shares in the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.
Allergan PLC (NYSE:AGN) traded up 2.161% during trading on Tuesday, hitting $194.095. 2,182,039 shares of the stock traded hands. The firm has a market cap of $72.80 billion, a PE ratio of 5.443 and a beta of 1.08. Allergan PLC has a 12 month low of $184.50 and a 12 month high of $322.68. The firm has a 50-day moving average price of $211.32 and a 200 day moving average price of $233.30.
Allergan PLC (NYSE:AGN) last announced its earnings results on Wednesday, November 2nd. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.65 by $0.33. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Allergan PLC had a net margin of 93.74% and a return on equity of 7.26%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.48 earnings per share. On average, equities analysts forecast that Allergan PLC will post $13.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.46%. This is an increase from Allergan PLC’s previous quarterly dividend of $0.05.
Several research firms have issued reports on AGN. Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $283.05 target price on the stock. in a research report on Monday, August 8th. Leerink Swann set a $294.00 price objective on Allergan PLC and gave the stock a “buy” rating in a research report on Monday, August 8th. Royal Bank Of Canada lowered their price objective on Allergan PLC from $300.00 to $279.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $300.00 price objective on shares of Allergan PLC in a research report on Tuesday, September 27th. Finally, Mizuho increased their price objective on Allergan PLC from $232.00 to $246.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $289.11.
In other news, CFO Maria Teresa Hilado purchased 1,422 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were bought at an average cost of $210.64 per share, for a total transaction of $299,530.08. Following the acquisition, the chief financial officer now owns 12,659 shares of the company’s stock, valued at approximately $2,666,491.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brent L. Saunders purchased 5,250 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were purchased at an average price of $189.13 per share, for a total transaction of $992,932.50. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.
About Allergan PLC
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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