BBT Capital Management LLC bought a new stake in Allergan plc (NYSE:AGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,212 shares of the company’s stock, valued at approximately $296,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of AGN. Bank of New York Mellon Corp raised its stake in Allergan by 2.9% during 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 acquiring an additional 99,490 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Allergan by 59.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 277,750 shares of the company’s stock valued at $1,367,000 after acquiring an additional 103,727 shares during the last quarter. Exchange Capital Management Inc. raised its stake in Allergan by 4.1% during the 3rd quarter. Exchange Capital Management Inc. now owns 25,373 shares of the company’s stock valued at $4,833,000 after acquiring an additional 990 shares during the last quarter. Wright Investors Service Inc. raised its stake in Allergan by 24.9% during the 3rd quarter. Wright Investors Service Inc. now owns 3,779 shares of the company’s stock valued at $720,000 after acquiring an additional 753 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Allergan by 105.4% during the 3rd quarter. First Trust Advisors LP now owns 160,497 shares of the company’s stock valued at $30,571,000 after acquiring an additional 82,375 shares during the last quarter. 78.60% of the stock is owned by hedge funds and other institutional investors.
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AGN has been the subject of several analyst reports. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a research note on Friday, December 21st. Credit Suisse Group reduced their price objective on Allergan from $213.00 to $202.00 and set an “outperform” rating for the company in a research note on Wednesday, October 31st. Morgan Stanley set a $183.00 price objective on Allergan and gave the company a “buy” rating in a research note on Thursday, December 20th. Raymond James reduced their price objective on Allergan from $232.00 to $198.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada set a $220.00 price objective on Allergan and gave the company a “buy” rating in a research note on Friday, November 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $199.79.
NYSE AGN opened at $136.60 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.13. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00. The company has a market cap of $46.68 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.
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 Thomson Reuters’ consensus estimate of $4.15 by $0.14. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $4.86 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Allergan plc will post 16.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 15th will be given a dividend of $0.74 per share. This is a boost from Allergan’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.96 annualized dividend and a yield of 2.17%. Allergan’s payout ratio is presently 17.74%.
Allergan declared that its board has initiated a stock buyback program on Tuesday, January 29th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
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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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