Allergan plc (AGN) Shares Sold by Loeb Partners Corp

Loeb Partners Corp lowered its holdings in shares of Allergan plc (NYSE:AGN) by 65.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,700 shares of the company’s stock after selling 7,130 shares during the quarter. Loeb Partners Corp’s holdings in Allergan were worth $705,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AGN. Flagship Harbor Advisors LLC purchased a new stake in shares of Allergan during the second quarter worth about $129,000. Gradient Investments LLC grew its holdings in Allergan by 747.5% during the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock valued at $129,000 after buying an additional 598 shares in the last quarter. Kaizen Advisory LLC grew its holdings in Allergan by 156.2% during the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock valued at $138,000 after buying an additional 506 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Allergan by 3,193.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock valued at $165,000 after buying an additional 958 shares in the last quarter. Finally, Aries Wealth Management purchased a new position in Allergan during the 2nd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.

In other Allergan news, Director Joseph H. Boccuzi purchased 900 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average cost of $190.59 per share, with a total value of $171,531.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were 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. Insiders bought a total of 11,900 shares of company stock valued at $2,234,931 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.

NYSE:AGN opened at $154.33 on Friday. The company has a market capitalization of $52.05 billion, a PE ratio of 9.44, a P/E/G ratio of 1.20 and a beta of 1.31. Allergan plc has a 1 year low of $142.81 and a 1 year high of $197.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.78.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.21. The business 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%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the company earned $4.15 EPS. Research analysts expect that Allergan plc will post 16.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, November 9th. Allergan’s payout ratio is 17.61%.

Several equities analysts have weighed in on the company. ValuEngine cut Allergan from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a report on Wednesday, October 31st. Leerink Swann assumed coverage on Allergan in a report on Monday, November 12th. They set an “outperform” rating and a $220.00 price target for the company. Cantor Fitzgerald set a $180.00 price target on Allergan and gave the company a “hold” rating in a report on Monday, August 6th. Finally, Mizuho upgraded Allergan from a “neutral” rating to a “buy” rating in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $209.18.

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Allergan 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.

Further Reading: What is the balance sheet?

Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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