Aviance Capital Partners LLC Sells 68,824 Shares of Allergan PLC. (NYSE:AGN)
Aviance Capital Partners LLC cut its stake in shares of Allergan PLC. (NYSE:AGN) by 55.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,716 shares of the company’s stock after selling 68,824 shares during the period. Allergan PLC. comprises approximately 4.8% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 2nd largest position. Aviance Capital Partners LLC’s holdings in Allergan PLC. were worth $13,073,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Ibex Wealth Advisors acquired a new position in shares of Allergan PLC. during the fourth quarter valued at $538,000. Becker Capital Management Inc. purchased a new stake in Allergan PLC. during the fourth quarter valued at approximately $23,304,000. Auxier Asset Management raised its stake in Allergan PLC. by 16.1% in the fourth quarter. Auxier Asset Management now owns 7,840 shares of the company’s stock valued at $1,646,000 after buying an additional 1,090 shares during the period. Kentucky Retirement Systems purchased a new stake in Allergan PLC. during the fourth quarter valued at approximately $5,716,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Allergan PLC. during the fourth quarter valued at approximately $2,550,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.
Allergan PLC. (NYSE AGN) traded down 0.35% during trading on Friday, reaching $223.99. The company had a trading volume of 2,006,235 shares. Allergan PLC. has a 52-week low of $184.50 and a 52-week high of $256.80. The stock has a 50 day moving average price of $243.31 and a 200-day moving average price of $238.68. The company has a market capitalization of $74.88 billion, a PE ratio of 6.82 and a beta of 1.16.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the business posted $3.35 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Allergan PLC. will post $16.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 1.25%. Allergan PLC.’s dividend payout ratio is currently 9.95%.
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Several equities research analysts have commented on AGN shares. BidaskClub lowered Allergan PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Citigroup Inc. reiterated a “focus list” rating and set a $261.27 price objective (up from $184.50) on shares of Allergan PLC. in a research note on Friday, April 21st. Deutsche Bank AG reiterated a “buy” rating and set a $273.00 price objective (up from $265.00) on shares of Allergan PLC. in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) lowered Allergan PLC. from a “buy” rating to a “neutral” rating and set a $262.00 price objective for the company. in a research note on Wednesday, May 10th. Finally, Royal Bank Of Canada boosted their price objective on Allergan PLC. from $279.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $275.49.
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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