Cedar Hill Associates LLC Sells 1,920 Shares of Allergan PLC. (AGN)
Cedar Hill Associates LLC cut its holdings in shares of Allergan PLC. (NYSE:AGN) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,646 shares of the company’s stock after selling 1,920 shares during the period. Allergan PLC. comprises about 2.3% of Cedar Hill Associates LLC’s portfolio, making the stock its 17th biggest position. Cedar Hill Associates LLC’s holdings in Allergan PLC. were worth $10,853,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of AGN. Howard Hughes Medical Institute purchased a new stake in Allergan PLC. during the second quarter worth about $103,000. Jacobi Capital Management LLC increased its stake in Allergan PLC. by 4.9% during the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after purchasing an additional 22 shares during the period. JNBA Financial Advisors increased its stake in Allergan PLC. by 2.5% during the first quarter. JNBA Financial Advisors now owns 487 shares of the company’s stock worth $116,000 after purchasing an additional 12 shares during the period. Pacific Center for Financial Services increased its stake in Allergan PLC. by 805.1% during the first quarter. Pacific Center for Financial Services now owns 534 shares of the company’s stock worth $128,000 after purchasing an additional 475 shares during the period. Finally, Ropes Wealth Advisors LLC increased its stake in Allergan PLC. by 31.0% during the first quarter. Ropes Wealth Advisors LLC now owns 575 shares of the company’s stock worth $137,000 after purchasing an additional 136 shares during the period. Institutional investors own 82.03% of the company’s stock.
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A number of brokerages have issued reports on AGN. Mizuho reiterated a “buy” rating and set a $267.00 price target on shares of Allergan PLC. in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $285.00 price target on shares of Allergan PLC. and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company boosted their price target on shares of Allergan PLC. to $278.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $273.00 price target (up from $265.00) on shares of Allergan PLC. in a research note on Monday, July 17th. Finally, Vetr upgraded shares of Allergan PLC. from a “sell” rating to a “hold” rating and set a $242.88 price target on the stock in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. Allergan PLC. presently has an average rating of “Buy” and a consensus target price of $271.84.
Shares of Allergan PLC. (NYSE AGN) opened at 209.30 on Friday. The stock has a market capitalization of $69.97 billion, a price-to-earnings ratio of 6.38 and a beta of 1.15. The company’s 50 day moving average is $219.01 and its 200-day moving average is $233.37. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80.
Allergan PLC. (NYSE:AGN) last announced its earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, beating the consensus estimate of $3.95 by $0.07. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $3.35 EPS. Equities analysts anticipate that Allergan PLC. will post $16.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 1.34%. Allergan PLC.’s payout ratio is currently 9.95%.
Allergan PLC. announced that its Board of Directors has approved a stock repurchase plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Allergan PLC. Company Profile
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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