Allergan PLC. (AGN) Stake Lessened by AMP Capital Investors Ltd

AMP Capital Investors Ltd lessened its stake in shares of Allergan PLC. (NYSE:AGN) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,969 shares of the company’s stock after selling 18,478 shares during the quarter. AMP Capital Investors Ltd’s holdings in Allergan were worth $19,258,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in Allergan by 4.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 101,711 shares of the company’s stock valued at $20,846,000 after purchasing an additional 4,138 shares during the period. Baupost Group LLC MA boosted its stake in Allergan by 21.9% during the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after purchasing an additional 531,600 shares during the period. Engineers Gate Manager LP bought a new stake in Allergan during the 3rd quarter valued at approximately $1,716,000. Clear Perspective Advisors LLC boosted its stake in Allergan by 314.6% during the 3rd quarter. Clear Perspective Advisors LLC now owns 995 shares of the company’s stock valued at $204,000 after purchasing an additional 755 shares during the period. Finally, Brave Asset Management Inc. boosted its stake in Allergan by 25.9% during the 3rd quarter. Brave Asset Management Inc. now owns 6,851 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,409 shares during the period. Institutional investors own 81.34% of the company’s stock.

In related news, insider William Meury sold 11,807 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher J. Coughlin purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 17,630 shares of company stock valued at $2,890,057. 0.36% of the stock is currently owned by insiders.

AGN has been the subject of several recent research reports. J P Morgan Chase & Co set a $275.00 price target on Allergan and gave the company a “buy” rating in a report on Sunday, October 22nd. Morgan Stanley cut Allergan from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $284.00 to $228.00 in a report on Wednesday, September 20th. Argus cut Allergan from a “buy” rating to a “hold” rating and cut their price target for the company from $256.80 to $160.07 in a report on Thursday. Cowen reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Allergan in a report on Tuesday, August 29th. Finally, Zacks Investment Research cut Allergan from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Allergan has an average rating of “Buy” and a consensus price target of $235.25.

Allergan PLC. (AGN) opened at $167.80 on Friday. Allergan PLC. has a twelve month low of $160.07 and a twelve month high of $256.80. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $54,832.97, a P/E ratio of 10.69, a PEG ratio of 1.10 and a beta of 1.11.

Allergan (NYSE:AGN) last issued its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the firm posted $3.32 EPS. Allergan’s quarterly revenue was up 11.4% compared to the same quarter last year. research analysts predict that Allergan PLC. will post 16.28 earnings per share for the current year.

Allergan announced that its board has authorized a share buyback plan on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. Allergan’s payout ratio is presently -12.44%.

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Allergan Company Profile

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.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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