Affinity Investment Advisors LLC trimmed its stake in Allergan plc (NYSE:AGN) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 70,066 shares of the company’s stock after selling 4,388 shares during the quarter. Allergan accounts for approximately 1.6% of Affinity Investment Advisors LLC’s holdings, making the stock its 23rd biggest holding. Affinity Investment Advisors LLC’s holdings in Allergan were worth $9,365,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of AGN. Ruggie Capital Group bought a new stake in Allergan in the fourth quarter valued at $53,000. Dubuque Bank & Trust Co. lifted its stake in Allergan by 6,457.1% in the fourth quarter. Dubuque Bank & Trust Co. now owns 459 shares of the company’s stock valued at $61,000 after buying an additional 452 shares during the last quarter. IMS Capital Management bought a new stake in Allergan in the third quarter valued at $66,000. Quantamental Technologies LLC bought a new stake in Allergan in the fourth quarter valued at $67,000. Finally, Exane Asset Management bought a new stake in Allergan in the fourth quarter valued at $77,000. Institutional investors own 84.04% of the company’s stock.
A number of equities research analysts have issued reports on AGN shares. Royal Bank of Canada set a $220.00 target price on Allergan and gave the company a “buy” rating in a research note on Friday, November 30th. Credit Suisse Group cut Allergan from an “outperform” rating to a “neutral” rating and cut their target price for the company from $197.00 to $161.00 in a research note on Thursday, January 31st. Zacks Investment Research cut Allergan from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine cut shares of Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 31st. Finally, TheStreet cut shares of Allergan from a “c” rating to a “d+” rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $201.37.
In other news, CFO Matthew M. Walsh bought 1,000 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were purchased at an average cost of $157.00 per share, with a total value of $157,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.
Shares of NYSE AGN opened at $134.74 on Tuesday. Allergan plc has a fifty-two week low of $125.84 and a fifty-two week high of $197.00. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.37. The stock has a market cap of $44.55 billion, a P/E ratio of 8.07, a P/E/G ratio of 1.05 and a beta of 1.43.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, January 29th. The company reported $4.29 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $0.14. Allergan had a negative net margin of 32.28% and a positive return on equity of 8.18%. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4 billion. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.86 earnings per share. As a group, analysts predict that Allergan plc will post 16.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be issued a dividend of $0.74 per share. This is a positive change from Allergan’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, February 14th. Allergan’s payout ratio is presently 17.26%.
Allergan declared that its board has initiated a share repurchase program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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.
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