Cumberland Advisors Inc. cut its stake in shares of Allergan plc (NYSE:AGN) by 5.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,880 shares of the company’s stock after selling 475 shares during the period. Cumberland Advisors Inc.’s holdings in Allergan were worth $1,494,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its holdings in shares of Allergan by 1,665.9% during the second quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock valued at $519,813,000 after buying an additional 2,928,846 shares in the last quarter. FMR LLC grew its holdings in shares of Allergan by 42.0% during the first quarter. FMR LLC now owns 6,042,005 shares of the company’s stock valued at $884,611,000 after buying an additional 1,788,265 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of Allergan by 7,332.9% during the second quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock valued at $161,783,000 after buying an additional 953,272 shares in the last quarter. OZ Management LP purchased a new position in shares of Allergan during the second quarter valued at $150,878,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Allergan by 8.6% during the first quarter. Clearbridge Investments LLC now owns 9,167,006 shares of the company’s stock valued at $1,342,141,000 after buying an additional 726,688 shares in the last quarter. 80.47% of the stock is currently owned by institutional investors.
Shares of AGN traded up $1.14 during trading hours on Friday, hitting $168.97. 745,317 shares of the company were exchanged, compared to its average volume of 2,651,670. The company has a market cap of $54.81 billion, a PE ratio of 10.12, a PEG ratio of 1.98 and a beta of 1.65. The firm’s 50 day moving average is $164.51 and its 200-day moving average is $151.59. Allergan plc has a 52 week low of $114.27 and a 52 week high of $192.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.91 and a current ratio of 1.03.
Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.34 by $0.04. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.42 EPS. As a group, equities analysts forecast that Allergan plc will post 16.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 13th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.96 annualized dividend and a dividend yield of 1.75%. Allergan’s dividend payout ratio is presently 17.74%.
A number of research analysts have recently weighed in on the company. SunTrust Banks lifted their price target on Allergan to $185.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Raymond James downgraded Allergan from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Cantor Fitzgerald boosted their target price on Allergan from $125.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. TheStreet upgraded Allergan from a “d+” rating to a “c” rating in a research note on Friday, July 12th. Finally, Svb Leerink restated a “market perform” rating and issued a $188.00 target price (down previously from $217.00) on shares of Allergan in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $179.15.
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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