Investors Buy Allergan (AGN) on Weakness
Traders bought shares of Allergan plc (NYSE:AGN) on weakness during trading on Friday. $570.10 million flowed into the stock on the tick-up and $168.45 million flowed out of the stock on the tick-down, for a money net flow of $401.65 million into the stock. Of all stocks tracked, Allergan had the 16th highest net in-flow for the day. Allergan traded down ($1.20) for the day and closed at $191.31
AGN has been the topic of several recent research reports. Argus restated a “hold” rating on shares of Allergan in a report on Thursday, July 5th. ValuEngine upgraded Allergan from a “strong sell” rating to a “sell” rating in a report on Friday. Credit Suisse Group set a $213.00 price target on Allergan and gave the stock a “buy” rating in a report on Friday, July 13th. Zacks Investment Research upgraded Allergan from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a report on Tuesday, July 24th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Allergan in a report on Saturday, September 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. Allergan currently has a consensus rating of “Buy” and an average target price of $211.91.
The stock has a market capitalization of $64.94 billion, a PE ratio of 11.14, a PEG ratio of 1.47 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 17th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, August 16th. This represents a $2.88 annualized dividend and a dividend yield of 1.51%. Allergan’s dividend payout ratio is currently 17.61%.
In other Allergan news, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $190.64 per share, with a total value of $1,906,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph H. Boccuzi acquired 900 shares of the stock in a transaction dated Thursday, August 30th. The shares were acquired at an average cost of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AGN. Parnassus Investments CA boosted its position in shares of Allergan by 3.1% in the 2nd quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock valued at $307,566,000 after purchasing an additional 55,029 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Allergan by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after purchasing an additional 99,490 shares during the period. Arbor Wealth Management LLC boosted its position in shares of Allergan by 92.8% in the 1st quarter. Arbor Wealth Management LLC now owns 13,846 shares of the company’s stock valued at $2,137,000 after purchasing an additional 6,663 shares during the period. Toronto Dominion Bank boosted its position in shares of Allergan by 1.5% in the 2nd quarter. Toronto Dominion Bank now owns 517,895 shares of the company’s stock valued at $90,451,000 after purchasing an additional 7,683 shares during the period. Finally, HL Financial Services LLC boosted its position in shares of Allergan by 32.2% in the 2nd quarter. HL Financial Services LLC now owns 601,456 shares of the company’s stock valued at $100,275,000 after purchasing an additional 146,645 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.
About Allergan (NYSE:AGN)
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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