Eagle Asset Management Inc. trimmed its stake in Allergan plc (NYSE:AGN) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,442 shares of the company’s stock after selling 19,440 shares during the quarter. Eagle Asset Management Inc.’s holdings in Allergan were worth $24,037,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Edgewood Management LLC raised its holdings in Allergan by 24.3% in the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after acquiring an additional 869,248 shares in the last quarter. Baupost Group LLC MA grew its position in Allergan by 21.9% during the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after acquiring an additional 531,600 shares during the last quarter. Parnassus Investments CA grew its position in Allergan by 20.4% during the 4th quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock worth $353,633,000 after acquiring an additional 365,914 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Allergan by 1.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock worth $370,060,000 after acquiring an additional 17,068 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Allergan by 5.3% during the 3rd quarter. Legal & General Group Plc now owns 1,739,410 shares of the company’s stock worth $356,484,000 after acquiring an additional 87,953 shares during the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.
Allergan plc (NYSE:AGN) traded up $3.87 during mid-day trading on Wednesday, hitting $167.06. 5,080,000 shares of the stock traded hands, compared to its average volume of 3,900,000. Allergan plc has a 1 year low of $142.81 and a 1 year high of $256.80. The stock has a market capitalization of $56,850.00, a price-to-earnings ratio of -13.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.29. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 0.38.
Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. Allergan had a negative net margin of 26.32% and a positive return on equity of 8.43%. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the business earned $3.90 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. analysts forecast that Allergan plc will post 15.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.72 per share. This is an increase from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.72%. Allergan’s payout ratio is presently -24.02%.
Several research analysts have commented on the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Allergan in a report on Wednesday. Leerink Swann boosted their price objective on Allergan from $237.00 to $242.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Vetr downgraded Allergan from a “buy” rating to a “hold” rating and set a $180.97 price target on the stock. in a research note on Wednesday, January 10th. Argus lowered Allergan from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $256.80 to $160.07 in a report on Thursday, December 7th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $191.00 target price on shares of Allergan in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $225.03.
In other news, Director Joseph H. Boccuzi bought 900 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average price of $143.42 per share, for a total transaction of $129,078.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Meury sold 58,879 shares of Allergan stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total transaction of $9,457,144.98. The disclosure for this sale can be found here. In the last three months, insiders have bought 7,200 shares of company stock valued at $1,108,267. Insiders own 0.36% of the company’s stock.
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.
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.