Markston International LLC Sells 4,158 Shares of Allergan plc (AGN)

Markston International LLC cut its stake in shares of Allergan plc (NYSE:AGN) by 5.3% in the 3rd quarter, Holdings Channel reports. The firm owned 74,359 shares of the company’s stock after selling 4,158 shares during the quarter. Allergan accounts for 1.5% of Markston International LLC’s investment portfolio, making the stock its 21st biggest position. Markston International LLC’s holdings in Allergan were worth $14,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGN. State of Alaska Department of Revenue lifted its position in shares of Allergan by 19.2% in the second quarter. State of Alaska Department of Revenue now owns 49,346 shares of the company’s stock valued at $8,226,000 after buying an additional 7,960 shares during the last quarter. SOL Capital Management CO acquired a new stake in shares of Allergan in the second quarter valued at approximately $223,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Allergan in the second quarter valued at approximately $1,149,000. Fox Run Management L.L.C. acquired a new stake in shares of Allergan in the second quarter valued at approximately $797,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Allergan in the second quarter valued at approximately $7,062,000. 77.55% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on AGN. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a research report on Wednesday, October 31st. Raymond James cut their price objective on Allergan from $232.00 to $198.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Credit Suisse Group cut their price objective on Allergan from $213.00 to $202.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. Cowen set a $255.00 price objective on Allergan and gave the company a “buy” rating in a research report on Tuesday, October 30th. Finally, ValuEngine cut Allergan from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $210.18.

In related news, Director Christopher J. Coughlin acquired 10,000 shares of the stock in a transaction on Thursday, September 6th. The shares were purchased at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph H. Boccuzi acquired 900 shares of the stock in a transaction on Thursday, August 30th. The shares were bought at an average price of $190.59 per share, for a total transaction of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.

Allergan stock opened at $169.31 on Friday. Allergan plc has a one year low of $142.81 and a one year high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.78 and a current ratio of 0.92. The firm has a market cap of $55.72 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 1.31 and a beta of 1.31.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 EPS for the quarter, topping the Zacks’ consensus estimate of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $4.15 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Equities research analysts expect that Allergan plc will post 16.42 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 13th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a yield of 1.70%. Allergan’s dividend payout ratio (DPR) is presently 17.61%.

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Allergan Company Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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