Baker Avenue Asset Management LP Increases Holdings in Allergan plc (AGN)
Baker Avenue Asset Management LP raised its holdings in shares of Allergan plc (NYSE:AGN) by 111.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,266 shares of the company’s stock after acquiring an additional 9,611 shares during the period. Baker Avenue Asset Management LP’s holdings in Allergan were worth $2,441,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Owl Creek Asset Management L.P. lifted its stake in shares of Allergan by 17.0% in the 4th quarter. Owl Creek Asset Management L.P. now owns 259,774 shares of the company’s stock valued at $34,721,000 after purchasing an additional 37,675 shares during the period. MML Investors Services LLC lifted its stake in shares of Allergan by 8.1% in the 4th quarter. MML Investors Services LLC now owns 9,610 shares of the company’s stock valued at $1,285,000 after purchasing an additional 720 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Allergan by 293.8% in the 4th quarter. Squarepoint Ops LLC now owns 633,577 shares of the company’s stock valued at $84,684,000 after purchasing an additional 472,695 shares during the period. Argentiere Capital AG acquired a new position in shares of Allergan in the 4th quarter valued at $4,678,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Allergan in the 4th quarter valued at $708,000. Institutional investors and hedge funds own 79.48% of the company’s stock.
In other Allergan news, Chairman Brent L. Saunders bought 1,760 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was acquired at an average price of $143.67 per share, with a total value of $252,859.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.
Allergan stock opened at $153.67 on Thursday. Allergan plc has a 52-week low of $125.84 and a 52-week high of $197.00. The firm has a market cap of $51.26 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.35.
Allergan (NYSE:AGN) last released its earnings results on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.15 by $0.14. Allergan had a negative net margin of 32.28% and a positive return on equity of 8.18%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the firm earned $4.86 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities research analysts anticipate that Allergan plc will post 16.37 EPS for the current fiscal year.
Allergan announced that its board has initiated a share buyback program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 15th were issued a dividend of $0.74 per share. This is a positive change from Allergan’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, February 14th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.93%. Allergan’s dividend payout ratio is presently 17.74%.
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Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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