Newport Trust Co lowered its stake in Allergan plc (NYSE:AGN) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,297,964 shares of the company’s stock after selling 24,645 shares during the period. Allergan accounts for approximately 0.7% of Newport Trust Co’s holdings, making the stock its 17th biggest holding. Newport Trust Co owned 0.38% of Allergan worth $247,236,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in AGN. Thompson Siegel & Walmsley LLC boosted its holdings in Allergan by 3,032.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 877,740 shares of the company’s stock valued at $146,337,000 after acquiring an additional 849,719 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Allergan by 27,066.5% during the 2nd quarter. Renaissance Technologies LLC now owns 787,828 shares of the company’s stock valued at $131,347,000 after buying an additional 784,928 shares in the last quarter. Sound Shore Management Inc. CT bought a new stake in shares of Allergan during the 3rd quarter valued at $140,026,000. Mainstay Capital Management LLC ADV boosted its holdings in shares of Allergan by 13,097.2% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 675,039 shares of the company’s stock valued at $4,288,000 after buying an additional 669,924 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Allergan by 16.3% during the 2nd quarter. Janus Henderson Group PLC now owns 4,778,699 shares of the company’s stock valued at $796,712,000 after buying an additional 668,343 shares in the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.
In other Allergan news, CFO Matthew M. Walsh bought 1,000 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $157.00 per share, with a total value of $157,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Coughlin bought 10,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 11,900 shares of company stock valued at $2,234,931. 0.36% of the stock is owned by insiders.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.21. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.89 billion. Allergan had a return on equity of 8.44% and a net margin of 14.50%. Allergan’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.15 EPS. Sell-side analysts forecast that Allergan plc will post 16.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 13th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio (DPR) is 17.61%.
A number of analysts have recently commented on the stock. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a report on Saturday, September 15th. ValuEngine upgraded shares of Allergan from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Mizuho restated a “hold” rating and set a $194.00 target price on shares of Allergan in a report on Monday, July 30th. Cantor Fitzgerald set a $180.00 target price on shares of Allergan and gave the company a “hold” rating in a report on Monday, August 6th. Finally, Morgan Stanley set a $202.00 target price on shares of Allergan and gave the company an “overweight” rating in a report on Thursday, August 23rd. 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 company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $209.18.
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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