Dimensional Fund Advisors LP Acquires 3,378 Shares of Allergan PLC. (AGN)
Dimensional Fund Advisors LP boosted its holdings in shares of Allergan PLC. (NYSE:AGN) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,671,466 shares of the company’s stock after buying an additional 3,378 shares during the quarter. Dimensional Fund Advisors LP owned 0.50% of Allergan worth $342,559,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Boston Private Wealth LLC raised its position in Allergan by 25.1% during the 3rd quarter. Boston Private Wealth LLC now owns 115,929 shares of the company’s stock worth $23,760,000 after buying an additional 23,266 shares during the last quarter. Brown Advisory Inc. raised its position in Allergan by 13.0% during the 3rd quarter. Brown Advisory Inc. now owns 26,804 shares of the company’s stock worth $5,494,000 after buying an additional 3,077 shares during the last quarter. Edgewood Management LLC raised its position in Allergan by 24.3% during the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after buying an additional 869,248 shares during the last quarter. Thornburg Investment Management Inc. raised its position in Allergan by 1.6% during the 3rd quarter. Thornburg Investment Management Inc. now owns 210,124 shares of the company’s stock worth $43,065,000 after buying an additional 3,250 shares during the last quarter. Finally, InterOcean Capital LLC raised its position in Allergan by 12.0% during the 3rd quarter. InterOcean Capital LLC now owns 10,783 shares of the company’s stock worth $2,210,000 after buying an additional 1,155 shares during the last quarter. 81.34% of the stock is owned by institutional investors.
In other Allergan news, insider William Meury sold 11,807 shares of Allergan stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Coughlin bought 10,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were acquired at an average cost of $163.30 per share, for a total transaction of $1,633,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 17,630 shares of company stock worth $2,890,057. 0.36% of the stock is currently owned by corporate insiders.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping the consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.32 EPS. analysts expect that Allergan PLC. will post 16.28 earnings per share for the current year.
Allergan announced that its Board of Directors has initiated a stock repurchase program on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.67%. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
AGN has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 target price on shares of Allergan in a report on Wednesday, September 6th. Deutsche Bank reaffirmed a “buy” rating and set a $262.00 target price on shares of Allergan in a report on Tuesday, September 12th. Argus reaffirmed a “buy” rating and set a $280.00 target price on shares of Allergan in a report on Monday, August 14th. Citigroup reaffirmed a “buy” rating and set a $280.00 target price on shares of Allergan in a report on Wednesday, September 20th. Finally, Mizuho reaffirmed a “buy” rating and set a $267.00 target price on shares of Allergan in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $235.25.
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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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