Suntrust Banks Inc. Has $22.03 Million Stake in Allergan PLC. (AGN)
Suntrust Banks Inc. decreased its stake in Allergan PLC. (NYSE:AGN) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,651 shares of the company’s stock after selling 1,757 shares during the period. Suntrust Banks Inc.’s holdings in Allergan PLC. were worth $22,034,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in AGN. Veritas Asset Management LLP bought a new position in shares of Allergan PLC. in the 1st quarter valued at about $761,339,000. Iridian Asset Management LLC CT grew its holdings in shares of Allergan PLC. by 141.3% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after acquiring an additional 751,848 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Allergan PLC. in the 1st quarter valued at about $124,255,000. Vanguard Group Inc. grew its holdings in shares of Allergan PLC. by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after acquiring an additional 482,220 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. grew its holdings in shares of Allergan PLC. by 24.1% in the 1st quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after acquiring an additional 370,400 shares in the last quarter. Institutional investors own 82.03% of the company’s stock.
AGN has been the subject of several analyst reports. Zacks Investment Research upgraded Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded Allergan PLC. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Royal Bank Of Canada set a $284.00 price objective on Allergan PLC. and gave the company a “buy” rating in a report on Monday, June 12th. Mizuho decreased their price objective on Allergan PLC. from $275.00 to $267.00 and set a “buy” rating for the company in a report on Friday, June 9th. Finally, Cowen and Company set a $400.00 price objective on Allergan PLC. and gave the company a “buy” rating in a report on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $271.84.
Allergan PLC. (NYSE:AGN) opened at 209.30 on Friday. The company’s 50-day moving average price is $219.01 and its 200-day moving average price is $233.37. Allergan PLC. has a 12-month low of $184.50 and a 12-month high of $256.80. The company has a market cap of $69.97 billion, a PE ratio of 6.38 and a beta of 1.15.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the firm posted $3.35 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Allergan PLC. will post $16.21 earnings per share for the current year.
Allergan PLC. announced that its Board of Directors has initiated a share buyback program on Monday, September 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Wednesday, August 16th. Allergan PLC.’s payout ratio is 9.95%.
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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