Addison Capital Co reduced its holdings in shares of Allergan plc (NYSE:AGN) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,917 shares of the company’s stock after selling 1,061 shares during the period. Addison Capital Co’s holdings in Allergan were worth $1,459,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Allergan by 2.2% in the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after purchasing an additional 482,220 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Allergan by 8.8% in the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after purchasing an additional 364,722 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of Allergan by 24.3% in the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after purchasing an additional 869,248 shares during the last quarter. Baupost Group LLC MA grew its holdings in shares of Allergan by 21.9% in the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after purchasing an additional 531,600 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Allergan by 1.0% in the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock worth $370,060,000 after purchasing an additional 17,068 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.
Allergan plc (NYSE AGN) opened at $181.33 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $59,750.00, a price-to-earnings ratio of -8.03, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. Allergan plc has a 52-week low of $160.07 and a 52-week high of $256.80.
Allergan declared that its board has initiated a stock repurchase program on Monday, September 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently issued reports on AGN. Vetr cut shares of Allergan from a “buy” rating to a “hold” rating and set a $180.97 target price on the stock. in a report on Wednesday, January 10th. Piper Jaffray Companies set a $227.00 target price on shares of Allergan and gave the stock a “hold” rating in a report on Friday, October 13th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price (down previously from $277.00) on shares of Allergan in a report on Thursday, October 19th. They noted that the move was a valuation call. Leerink Swann restated an “outperform” rating and issued a $237.00 target price on shares of Allergan in a report on Monday, November 27th. Finally, UBS Group restated a “buy” rating and issued a $275.00 target price on shares of Allergan in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $226.95.
In related news, Chairman Brent L. Saunders purchased 4,600 shares of the stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average price of $164.74 per share, with a total value of $757,804.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher J. Coughlin purchased 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was bought 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. Insiders have acquired 17,630 shares of company stock valued at $2,890,057 in the last three months. Insiders own 0.36% of the company’s stock.
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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