Whittier Trust Co. Acquires 3,605 Shares of Allergan plc (AGN)

Whittier Trust Co. boosted its holdings in shares of Allergan plc (NYSE:AGN) by 7.5% in the first quarter, HoldingsChannel.com reports. The fund owned 51,834 shares of the company’s stock after acquiring an additional 3,605 shares during the period. Whittier Trust Co.’s holdings in Allergan were worth $7,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley increased its stake in Allergan by 22.2% during the 3rd quarter. Morgan Stanley now owns 2,660,131 shares of the company’s stock valued at $506,702,000 after purchasing an additional 483,860 shares in the last quarter. Nomura Holdings Inc. increased its stake in Allergan by 9.2% during the 4th quarter. Nomura Holdings Inc. now owns 30,522 shares of the company’s stock valued at $4,074,000 after purchasing an additional 2,580 shares in the last quarter. American Century Companies Inc. increased its stake in Allergan by 21.1% during the 4th quarter. American Century Companies Inc. now owns 1,235,389 shares of the company’s stock valued at $165,122,000 after purchasing an additional 214,955 shares in the last quarter. Nordea Investment Management AB bought a new stake in Allergan during the 3rd quarter valued at about $19,917,000. Finally, Institute for Wealth Management LLC. bought a new stake in Allergan during the 4th quarter valued at about $716,000. 80.58% of the stock is owned by institutional investors.

Shares of NYSE AGN opened at $145.39 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market cap of $48.36 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.34 and a beta of 1.34. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00.

Allergan (NYSE:AGN) last announced its earnings results on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $0.14. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4 billion. Allergan had a negative net margin of 32.28% and a positive return on equity of 8.18%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.86 earnings per share. Equities research analysts anticipate that Allergan plc will post 16.37 EPS for the current year.

Allergan announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

AGN has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Allergan from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Cantor Fitzgerald set a $180.00 price target on shares of Allergan and gave the stock a “hold” rating in a research note on Friday, January 4th. Credit Suisse Group reduced their price target on shares of Allergan from $200.00 to $197.00 and set an “outperform” rating for the company in a research note on Tuesday, January 8th. ValuEngine upgraded shares of Allergan from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 15th. Finally, Morgan Stanley lowered shares of Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 price target for the company. in a research note on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $188.05.

In other Allergan news, Chairman Brent L. Saunders bought 1,760 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was bought at an average cost of $143.67 per share, for a total transaction of $252,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

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Allergan 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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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