Allergan PLC. (AGN) Shares Sold by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. cut its holdings in shares of Allergan PLC. (NYSE:AGN) by 54.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,587 shares of the company’s stock after selling 4,259 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Allergan PLC. were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pathstone Family Office LLC grew its holdings in shares of 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 purchasing an additional 366 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Allergan PLC. during the 2nd quarter worth $103,000. Jacobi Capital Management LLC grew its holdings in shares of Allergan PLC. by 4.9% during the 1st 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. Massey Quick & Co. LLC grew its holdings in shares of Allergan PLC. by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after purchasing an additional 385 shares during the period. Finally, Cable Hill Partners LLC grew its holdings in shares of Allergan PLC. by 255.2% during the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.
Allergan PLC. (NYSE AGN) traded up $4.59 on Wednesday, hitting $175.26. The stock had a trading volume of 1,394,293 shares, compared to its average volume of 2,910,292. Allergan PLC. has a fifty-two week low of $169.61 and a fifty-two week high of $256.80. The stock has a market cap of $56,760.00, a P/E ratio of 11.10, a P/E/G ratio of 1.08 and a beta of 1.12. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.04 billion. Allergan PLC. had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.32 EPS. analysts forecast that Allergan PLC. will post 16.28 EPS for the current year.
The company also recently declared 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. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 1.60%. Allergan PLC.’s dividend payout ratio is presently -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 buy up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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Several equities analysts recently issued reports on AGN shares. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 target price (down previously from $277.00) on shares of Allergan PLC. in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 target price on Allergan PLC. and gave the stock a “buy” rating in a research note on Sunday, October 22nd. BidaskClub lowered Allergan PLC. from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho reissued a “buy” rating and set a $267.00 target price on shares of Allergan PLC. in a research note on Monday, September 25th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $258.00 target price on shares of Allergan PLC. in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $246.73.
Allergan PLC. 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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