Gateway Investment Advisers LLC reduced its holdings in shares of Allergan plc (NYSE:AGN) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,935 shares of the company’s stock after selling 1,916 shares during the period. Gateway Investment Advisers LLC’s holdings in Allergan were worth $37,668,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of AGN. Avestar Capital LLC acquired a new stake in Allergan during the 4th quarter worth about $113,000. Captrust Financial Advisors acquired a new stake in Allergan during the 4th quarter worth about $175,000. Bfsg LLC acquired a new stake in Allergan during the 1st quarter worth about $206,000. Wayne Hummer Investments L.L.C. acquired a new stake in Allergan during the 1st quarter worth about $211,000. Finally, RMB Capital Management LLC acquired a new stake in Allergan during the 1st quarter worth about $213,000. Hedge funds and other institutional investors own 79.28% of the company’s stock.
In related news, EVP William Meury sold 24,425 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $154.59, for a total value of $3,775,860.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on AGN. Zacks Investment Research upgraded Allergan from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Wednesday. Argus reiterated a “hold” rating on shares of Allergan in a report on Thursday, July 5th. Mizuho reiterated a “neutral” rating and set a $194.00 price target on shares of Allergan in a report on Monday. Deutsche Bank set a $210.00 price target on Allergan and gave the stock a “buy” rating in a report on Tuesday, May 1st. Finally, Bank of America reduced their target price on Allergan from $213.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $209.53.
NYSE AGN traded down $1.54 during trading hours on Wednesday, hitting $174.41. The company’s stock had a trading volume of 1,372,145 shares, compared to its average volume of 2,931,309. Allergan plc has a 52 week low of $142.81 and a 52 week high of $256.80. The stock has a market cap of $59.96 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.10.
Allergan (NYSE:AGN) last announced its quarterly earnings results on Monday, April 30th. The company reported $3.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.36 by $0.38. Allergan had a negative net margin of 11.94% and a positive return on equity of 8.53%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the firm earned $3.35 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts predict that Allergan plc will post 16.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, May 18th were given a $0.72 dividend. The ex-dividend date was Thursday, May 17th. This represents a $2.88 annualized dividend and a yield of 1.65%. Allergan’s payout ratio is 17.61%.
Allergan Company Profile
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.
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