Allergan PLC. (AGN) Stake Increased by Northern Trust Corp
Northern Trust Corp grew its stake in shares of Allergan PLC. (NYSE:AGN) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,492,944 shares of the company’s stock after acquiring an additional 364,722 shares during the quarter. Northern Trust Corp owned about 1.34% of Allergan PLC. worth $1,092,189,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waldron LP bought a new position in Allergan PLC. during the first quarter valued at approximately $348,000. World Asset Management Inc boosted its holdings in Allergan PLC. by 3.7% in the first quarter. World Asset Management Inc now owns 34,865 shares of the company’s stock worth $8,330,000 after purchasing an additional 1,235 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Allergan PLC. in the first quarter worth approximately $1,584,000. UBS Asset Management Americas Inc. boosted its holdings in Allergan PLC. by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,995,281 shares of the company’s stock worth $476,713,000 after purchasing an additional 5,042 shares during the last quarter. Finally, Community Bank & Trust Waco Texas boosted its holdings in Allergan PLC. by 3.0% in the first quarter. Community Bank & Trust Waco Texas now owns 6,919 shares of the company’s stock worth $1,653,000 after purchasing an additional 204 shares during the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.
AGN has been the topic of several research analyst reports. Cowen and Company set a $400.00 price target on Allergan PLC. and gave the company a “buy” rating in a report on Thursday, June 8th. Citigroup Inc. reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Allergan PLC. in a report on Wednesday, September 20th. Mizuho cut their price objective on Allergan PLC. from $275.00 to $267.00 and set a “buy” rating for the company in a report on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $285.00 price objective on shares of Allergan PLC. in a research report on Wednesday, September 6th. Finally, Cantor Fitzgerald began coverage on Allergan PLC. in a research report on Friday, June 16th. They set a “neutral” rating and a $231.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $271.84.
Shares of Allergan PLC. (AGN) opened at 209.80 on Wednesday. Allergan PLC. has a 52-week low of $184.50 and a 52-week high of $256.80. The stock has a market cap of $70.14 billion, a PE ratio of 6.39 and a beta of 1.15. The company’s 50 day moving average price is $220.20 and its 200 day moving average price is $233.72.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the company earned $3.35 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts anticipate that Allergan PLC. will post $16.22 earnings per share for the current year.
Allergan PLC. declared that its Board of Directors has authorized a stock buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, August 16th. Allergan PLC.’s payout ratio is currently 9.95%.
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Allergan PLC. Profile
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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