Allergan PLC. (AGN) Position Raised by Marietta Wealth Management LLC
Marietta Wealth Management LLC boosted its holdings in shares of Allergan PLC. (NYSE:AGN) by 20.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,491 shares of the company’s stock after purchasing an additional 1,116 shares during the period. Marietta Wealth Management LLC’s holdings in Allergan PLC. were worth $1,578,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in AGN. Gluskin Sheff & Assoc Inc. lifted its position in Allergan PLC. by 59.5% during the 2nd quarter. Gluskin Sheff & Assoc Inc. now owns 103,681 shares of the company’s stock worth $25,204,000 after buying an additional 38,683 shares in the last quarter. Pacific Center for Financial Services grew its holdings in Allergan PLC. by 1.3% during the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after acquiring an additional 7 shares during the last quarter. Pathstone Family Office LLC grew its holdings in Allergan PLC. by 3,327.3% during the 2nd quarter. Pathstone Family Office LLC now owns 377 shares of the company’s stock worth $2,035,000 after acquiring an additional 366 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Allergan PLC. by 4.2% during the 2nd quarter. New York State Common Retirement Fund now owns 1,110,487 shares of the company’s stock worth $269,948,000 after acquiring an additional 44,834 shares during the last quarter. Finally, Fayez Sarofim & Co. bought a new stake in Allergan PLC. during the 2nd quarter worth about $200,000. 82.03% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on AGN. Wells Fargo & Company restated a “buy” rating on shares of Allergan PLC. in a research report on Monday. Barclays PLC reiterated an “equal weight” rating on shares of Allergan PLC. in a research report on Monday. UBS AG reiterated a “buy” rating and set a $275.00 target price on shares of Allergan PLC. in a research report on Tuesday, September 26th. Credit Suisse Group reissued an “outperform” rating and set a $266.00 price target (down from $286.00) on shares of Allergan PLC. in a research note on Tuesday, September 26th. Finally, Mizuho reissued a “buy” rating and set a $267.00 price target on shares of Allergan PLC. in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $271.84.
Allergan PLC. (NYSE:AGN) opened at 209.80 on Wednesday. The firm has a market cap of $70.14 billion, a price-to-earnings ratio of 6.39 and a beta of 1.15. Allergan PLC. has a one year low of $184.50 and a one year high of $256.80. The stock has a 50 day moving average of $220.20 and a 200 day moving average of $233.72.
Allergan PLC. (NYSE:AGN) last announced its earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.95 by $0.07. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.35 earnings per share. Equities research analysts predict that Allergan PLC. will post $16.22 EPS for the current fiscal year.
Allergan PLC. announced that its board has authorized a stock buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were given a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.33%. Allergan PLC.’s dividend payout ratio (DPR) is currently 9.95%.
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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