NWQ Investment Management Company LLC trimmed its stake in shares of Allergan PLC. (NYSE:AGN) by 16.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,976 shares of the company’s stock after selling 27,289 shares during the period. NWQ Investment Management Company LLC’s holdings in Allergan were worth $28,073,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in AGN. Honeywell International Inc. lifted its stake in Allergan by 13.6% in the 2nd quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after acquiring an additional 20,100 shares in the last quarter. Peloton Wealth Strategists lifted its stake in Allergan by 37.1% in the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after acquiring an additional 2,835 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Allergan by 39.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after acquiring an additional 4,244 shares in the last quarter. Fairbanks Capital Management Inc. lifted its stake in Allergan by 1.3% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock worth $1,332,000 after acquiring an additional 70 shares in the last quarter. Finally, Colony Group LLC lifted its stake in Allergan by 9.9% in the 2nd quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after acquiring an additional 3,577 shares in the last quarter. 81.14% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Wells Fargo & Co reissued an “outperform” rating on shares of Allergan in a research note on Monday, September 11th. Deutsche Bank reaffirmed a “buy” rating and issued a $262.00 target price on shares of Allergan in a research report on Tuesday, September 12th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $285.00 target price on shares of Allergan in a research report on Wednesday, September 6th. Citigroup reaffirmed a “buy” rating and issued a $280.00 target price on shares of Allergan in a research report on Wednesday, September 20th. Finally, Morgan Stanley lowered Allergan from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $284.00 to $228.00 in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $231.16.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.32 EPS. analysts predict that Allergan PLC. will post 16.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, November 16th. Allergan’s dividend payout ratio (DPR) is currently -12.44%.
Allergan announced that its board has initiated a share buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other Allergan news, Director Chris W. Bodine bought 3,030 shares of the stock in a transaction on Thursday, December 7th. The shares were purchased at an average price of $164.77 per share, with a total value of $499,253.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Brent L. Saunders bought 4,600 shares of the stock in a transaction on Wednesday, December 6th. The stock was acquired at an average cost of $164.74 per share, for a total transaction of $757,804.00. The disclosure for this purchase can be found here. Insiders acquired a total of 17,630 shares of company stock worth $2,890,057 in the last ninety days. Insiders own 0.36% of the company’s stock.
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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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