Clifford Swan Investment Counsel LLC Reduces Stake in Allergan plc (AGN)

Clifford Swan Investment Counsel LLC cut its position in Allergan plc (NYSE:AGN) by 6.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 34,022 shares of the company’s stock after selling 2,291 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Allergan were worth $5,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AGN. Edgewood Management LLC boosted its holdings in Allergan by 24.3% in the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after purchasing an additional 869,248 shares during the period. Baupost Group LLC MA boosted its holdings in Allergan by 21.9% in the third 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. Parnassus Investments CA boosted its holdings in Allergan by 20.4% in the fourth quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock valued at $353,633,000 after purchasing an additional 365,914 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Allergan by 1.0% in the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock valued at $370,060,000 after purchasing an additional 17,068 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in Allergan by 13.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,763,209 shares of the company’s stock valued at $288,426,000 after purchasing an additional 210,962 shares during the period. 79.76% of the stock is owned by institutional investors and hedge funds.

In other news, insider William Meury sold 58,879 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $160.62, for a total value of $9,457,144.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chris W. Bodine bought 3,030 shares of Allergan stock in a transaction dated Thursday, December 7th. The stock was purchased at an average cost of $164.77 per share, with a total value of $499,253.10. The disclosure for this purchase can be found here. Insiders bought a total of 17,630 shares of company stock valued at $2,890,057 over the last three months. Company insiders own 0.36% of the company’s stock.

Shares of Allergan plc (AGN) opened at $164.04 on Friday. Allergan plc has a fifty-two week low of $156.00 and a fifty-two week high of $256.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 1.88. The firm has a market capitalization of $54,556.91, a PE ratio of 10.01, a PEG ratio of 1.16 and a beta of 1.19.

Allergan (NYSE:AGN) last posted its earnings results on Tuesday, February 6th. The company reported $4.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.12. Allergan had a positive return on equity of 8.28% and a negative net margin of 26.32%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the business earned $3.90 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. analysts anticipate that Allergan plc will post 15.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be issued a $0.72 dividend. This is an increase from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, February 27th. Allergan’s payout ratio is presently -20.86%.

A number of research analysts recently issued reports on AGN shares. JPMorgan Chase & Co. set a $275.00 target price on Allergan and gave the company a “buy” rating in a report on Sunday, October 22nd. Zacks Investment Research upgraded Allergan from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Royal Bank of Canada set a $250.00 target price on Allergan and gave the company a “buy” rating in a report on Sunday, October 29th. They noted that the move was a valuation call. Cantor Fitzgerald set a $231.00 target price on Allergan and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $245.00 target price (down from $258.00) on shares of Allergan in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. Allergan presently has an average rating of “Buy” and a consensus price target of $227.23.

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Allergan 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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