Ledyard National Bank Lowers Position in Allergan plc (NYSE:AGN)

Ledyard National Bank cut its stake in Allergan plc (NYSE:AGN) by 47.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,463 shares of the company’s stock after selling 1,325 shares during the quarter. Ledyard National Bank’s holdings in Allergan were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Liberty Wealth Management LLC raised its stake in shares of Allergan by 108.8% in the first quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Legacy Bridge LLC bought a new position in shares of Allergan in the first quarter valued at approximately $27,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Allergan by 2,162.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares in the last quarter. Investors Research Corp bought a new position in shares of Allergan in the first quarter valued at approximately $29,000. Finally, Evolution Wealth Advisors LLC bought a new position in shares of Allergan in the second quarter valued at approximately $30,000. 79.95% of the stock is owned by hedge funds and other institutional investors.

NYSE AGN traded down $0.99 on Friday, hitting $158.86. 1,226,975 shares of the stock traded hands, compared to its average volume of 4,955,877. The stock’s fifty day simple moving average is $160.75. Allergan plc has a 12 month low of $114.27 and a 12 month high of $197.00. The company has a market cap of $52.37 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.60.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.53% and a negative net margin of 54.25%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the company earned $4.42 earnings per share. Allergan’s revenue was down .8% compared to the same quarter last year. On average, analysts forecast that Allergan plc will post 16.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 13th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, August 12th. Allergan’s payout ratio is currently 17.74%.

AGN has been the subject of several recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a report on Tuesday, June 25th. Jefferies Financial Group initiated coverage on Allergan in a report on Monday, April 15th. They issued a “hold” rating and a $144.95 target price for the company. Goldman Sachs Group initiated coverage on Allergan in a report on Tuesday, May 28th. They issued a “neutral” rating and a $154.00 target price for the company. Guggenheim lowered Allergan from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, ValuEngine lowered Allergan from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $180.00.

Allergan Company Profile

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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