Wesbanco Bank Inc. cut its holdings in shares of Allergan plc (NYSE:AGN) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,715 shares of the company’s stock after selling 1,091 shares during the quarter. Wesbanco Bank Inc.’s holdings in Allergan were worth $3,823,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Prosight Management LP acquired a new stake in shares of Allergan in the 4th quarter valued at $16,031,000. Tower Research Capital LLC TRC raised its holdings in shares of Allergan by 479.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the company’s stock valued at $289,000 after purchasing an additional 1,463 shares in the last quarter. Arbor Wealth Management LLC raised its holdings in shares of Allergan by 92.8% in the 1st quarter. Arbor Wealth Management LLC now owns 13,846 shares of the company’s stock valued at $2,137,000 after purchasing an additional 6,663 shares in the last quarter. Canyon Capital Advisors LLC raised its holdings in shares of Allergan by 248.4% in the 4th quarter. Canyon Capital Advisors LLC now owns 501,494 shares of the company’s stock valued at $82,034,000 after purchasing an additional 357,559 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. raised its holdings in shares of Allergan by 23.8% in the 4th quarter. Vantage Financial Partners Ltd. Inc. now owns 6,250 shares of the company’s stock valued at $1,018,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 79.16% of the company’s stock.
In other Allergan news, EVP William Meury sold 24,425 shares of the firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $154.59, for a total transaction of $3,775,860.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.
Shares of Allergan stock opened at $173.05 on Wednesday. Allergan plc has a 1 year low of $142.81 and a 1 year high of $256.80. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a market cap of $58.22 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Monday, April 30th. The company reported $3.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.38. Allergan had a negative net margin of 11.94% and a positive return on equity of 8.53%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm posted $3.35 EPS. Allergan’s revenue for the quarter was up 2.8% on a year-over-year basis. research analysts forecast that Allergan plc will post 16.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 18th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Thursday, May 17th. Allergan’s payout ratio is currently 17.61%.
A number of equities research analysts have recently weighed in on the stock. Mizuho restated a “hold” rating and issued a $150.00 price objective on shares of Allergan in a report on Wednesday, May 30th. Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the company a “hold” rating in a report on Monday, June 11th. Credit Suisse Group set a $213.00 price objective on shares of Allergan and gave the company a “buy” rating in a report on Tuesday, June 12th. Bank of America raised their price objective on shares of Allergan from $209.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, June 12th. Finally, Deutsche Bank set a $210.00 price objective on shares of Allergan and gave the company a “buy” rating in a report on Tuesday, May 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $212.15.
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.
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