Allergan plc (AGN) Holdings Trimmed by One Capital Management LLC
One Capital Management LLC cut its stake in shares of Allergan plc (NYSE:AGN) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,394 shares of the company’s stock after selling 944 shares during the period. One Capital Management LLC’s holdings in Allergan were worth $2,325,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Redpoint Investment Management Pty Ltd raised its stake in shares of Allergan by 88.7% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 20,518 shares of the company’s stock worth $2,742,000 after purchasing an additional 9,642 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Allergan during the 4th quarter worth $355,000. Howe & Rusling Inc. raised its stake in shares of Allergan by 30.8% during the 4th quarter. Howe & Rusling Inc. now owns 1,262 shares of the company’s stock worth $169,000 after purchasing an additional 297 shares during the period. High Pointe Capital Management LLC raised its stake in shares of Allergan by 38.4% during the 4th quarter. High Pointe Capital Management LLC now owns 8,750 shares of the company’s stock worth $1,170,000 after purchasing an additional 2,430 shares during the period. Finally, SeaBridge Investment Advisors LLC raised its stake in shares of Allergan by 11.1% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 4,248 shares of the company’s stock worth $568,000 after purchasing an additional 426 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.
Shares of Allergan stock opened at $132.09 on Monday. Allergan plc has a 52-week low of $125.84 and a 52-week high of $197.00. The stock has a market capitalization of $44.55 billion, a P/E ratio of 7.91, a PEG ratio of 1.05 and a beta of 1.43. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.37.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 15th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, February 14th. This is a positive change from Allergan’s previous quarterly dividend of $0.72. Allergan’s payout ratio is presently 17.26%.
Allergan declared that its board has authorized a share buyback plan on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
A number of research firms have recently commented on AGN. Cowen set a $255.00 target price on Allergan and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a research note on Wednesday, October 17th. ValuEngine upgraded Allergan from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Royal Bank of Canada set a $220.00 target price on Allergan and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Finally, Leerink Swann started coverage on Allergan in a research note on Monday, November 12th. They issued an “outperform” rating and a $220.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $201.37.
In related news, CFO Matthew M. Walsh bought 1,000 shares of Allergan stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $157.00 per share, with a total value of $157,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by insiders.
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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.
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