Gamco Investors INC. ET AL Reduces Position in Allergan plc (NYSE:AGN)

Gamco Investors INC. ET AL lessened its holdings in shares of Allergan plc (NYSE:AGN) by 20.0% in the 3rd quarter, Holdings Channel reports. The fund owned 83,674 shares of the company’s stock after selling 20,980 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Allergan were worth $14,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Trust N.A. grew its stake in shares of Allergan by 1.3% in the 3rd quarter. Raymond James Trust N.A. now owns 4,466 shares of the company’s stock valued at $752,000 after buying an additional 59 shares during the period. Liberty Wealth Management LLC grew its stake in shares of Allergan by 35.3% in the 2nd quarter. Liberty Wealth Management LLC now owns 257 shares of the company’s stock valued at $43,000 after buying an additional 67 shares during the period. TRUE Private Wealth Advisors grew its stake in shares of Allergan by 4.5% in the 3rd quarter. TRUE Private Wealth Advisors now owns 1,715 shares of the company’s stock valued at $288,000 after buying an additional 74 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Allergan by 43.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 259 shares of the company’s stock valued at $44,000 after buying an additional 78 shares during the period. Finally, Fusion Family Wealth LLC grew its stake in shares of Allergan by 81.4% in the 3rd quarter. Fusion Family Wealth LLC now owns 176 shares of the company’s stock valued at $30,000 after buying an additional 79 shares during the period. 80.70% of the stock is owned by institutional investors.

Several research firms have recently weighed in on AGN. Leerink Swann cut shares of Allergan from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $217.00 to $188.00 in a research note on Thursday, July 18th. Sanford C. Bernstein cut shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price target for the company. in a research note on Tuesday, July 16th. Cantor Fitzgerald upped their price objective on shares of Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Co restated an “outperform” rating and issued a $184.00 price objective (up from $176.00) on shares of Allergan in a report on Monday, September 30th. Finally, ValuEngine lowered shares of Allergan from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Allergan presently has an average rating of “Hold” and a consensus target price of $175.16.

Allergan stock opened at $178.55 on Thursday. The firm has a market cap of $58.66 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.66. Allergan plc has a 52-week low of $114.27 and a 52-week high of $179.88. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $171.07 and its two-hundred day moving average is $155.31.

Allergan (NYSE:AGN) last released its earnings results on Tuesday, November 5th. The company reported $4.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $4.25. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.88 billion. Allergan had a negative net margin of 54.25% and a positive return on equity of 8.73%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.25 EPS. On average, equities research analysts anticipate that Allergan plc will post 16.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.96 dividend on an annualized basis and a yield of 1.66%. Allergan’s dividend payout ratio (DPR) is presently 17.74%.

About Allergan

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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