Allergan PLC. (AGN) Stake Boosted by Grimes & Company Inc.
Grimes & Company Inc. boosted its holdings in Allergan PLC. (NYSE:AGN) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,395 shares of the company’s stock after acquiring an additional 496 shares during the period. Grimes & Company Inc.’s holdings in Allergan PLC. were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of AGN. First Interstate Bank grew its stake in Allergan PLC. by 52.4% in the 1st quarter. First Interstate Bank now owns 977 shares of the company’s stock valued at $233,000 after acquiring an additional 336 shares during the last quarter. Boston Private Wealth LLC lifted its holdings in Allergan PLC. by 13.0% in the 1st quarter. Boston Private Wealth LLC now owns 86,319 shares of the company’s stock valued at $20,623,000 after purchasing an additional 9,919 shares in the last quarter. Investment House LLC lifted its holdings in Allergan PLC. by 12.4% in the 1st quarter. Investment House LLC now owns 31,562 shares of the company’s stock valued at $7,541,000 after purchasing an additional 3,481 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Allergan PLC. during the 1st quarter worth about $383,000. Finally, BB&T Securities LLC lifted its holdings in shares of Allergan PLC. by 84.6% during the 1st quarter. BB&T Securities LLC now owns 66,916 shares of the company’s stock worth $15,986,000 after acquiring an additional 30,660 shares during the period. 82.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Allergan PLC. (NYSE AGN) traded down $0.58 during midday trading on Friday, hitting $172.42. 1,357,040 shares of the company were exchanged, compared to its average volume of 4,550,000. Allergan PLC. has a fifty-two week low of $169.64 and a fifty-two week high of $256.80. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $57,540.00, a PE ratio of 11.35, a P/E/G ratio of 1.11 and a beta of 1.12.
Allergan PLC. (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan PLC. had a negative net margin of 47.27% and a positive return on equity of 8.00%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the business earned $3.32 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. analysts expect that Allergan PLC. will post 16.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio is currently -12.39%.
Allergan PLC. declared that its board has initiated a share repurchase program on Monday, September 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Several research firms recently commented on AGN. Wells Fargo & Company restated an “outperform” rating and issued a $280.00 price target (up previously from $270.00) on shares of Allergan PLC. in a report on Wednesday, August 9th. UBS AG restated an “outperform” rating and issued a $275.00 price target on shares of Allergan PLC. in a report on Wednesday, August 9th. Piper Jaffray Companies set a $227.00 price target on shares of Allergan PLC. and gave the company a “hold” rating in a report on Friday, October 13th. Argus restated a “buy” rating and issued a $280.00 price target on shares of Allergan PLC. in a report on Monday, August 14th. Finally, BidaskClub lowered shares of Allergan PLC. from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $246.73.
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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