Cedar Hill Associates LLC Trims Holdings in Allergan plc (AGN)

Cedar Hill Associates LLC lowered its position in Allergan plc (NYSE:AGN) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,552 shares of the company’s stock after selling 4,050 shares during the quarter. Cedar Hill Associates LLC’s holdings in Allergan were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AGN. New Jersey Better Educational Savings Trust raised its stake in shares of Allergan by 9.4% during the second quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the company’s stock worth $584,000 after purchasing an additional 300 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Allergan by 34.9% during the second quarter. Parallel Advisors LLC now owns 1,233 shares of the company’s stock worth $205,000 after purchasing an additional 319 shares during the last quarter. Arvest Bank Trust Division raised its stake in shares of Allergan by 0.6% during the first quarter. Arvest Bank Trust Division now owns 56,243 shares of the company’s stock worth $9,465,000 after purchasing an additional 333 shares during the last quarter. Iberiabank Corp raised its stake in shares of Allergan by 10.3% during the second quarter. Iberiabank Corp now owns 3,706 shares of the company’s stock worth $618,000 after purchasing an additional 346 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Allergan by 4.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,991 shares of the company’s stock worth $1,499,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 79.18% of the company’s stock.

Allergan opened at $184.06 on Friday, Marketbeat reports. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.12. Allergan plc has a 1 year low of $142.81 and a 1 year high of $237.84.

Allergan (NYSE:AGN) last released its quarterly earnings data on Thursday, July 26th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.13 by $0.29. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Allergan had a positive return on equity of 8.60% and a negative net margin of 10.29%. Allergan’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.02 earnings per share. sell-side analysts anticipate that Allergan plc will post 16.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 17th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, August 16th. Allergan’s dividend payout ratio (DPR) is 17.61%.

Several equities research analysts have recently commented on AGN shares. Cowen set a $255.00 price target on Allergan and gave the stock a “buy” rating in a research note on Monday, April 16th. ValuEngine cut Allergan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Evercore ISI started coverage on Allergan in a research note on Monday, April 23rd. They set an “outperform” rating for the company. Citigroup restated a “buy” rating and set a $200.00 price target (down previously from $220.00) on shares of Allergan in a research note on Tuesday, April 24th. Finally, Wells Fargo & Co set a $245.00 price objective on Allergan and gave the stock a “buy” rating in a research report on Friday, April 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Allergan currently has a consensus rating of “Buy” and a consensus target price of $209.48.

In other Allergan news, EVP William Meury sold 24,425 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $154.59, for a total value of $3,775,860.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.36% of the stock is currently owned by corporate insiders.

Allergan Profile

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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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