South Street Advisors LLC reduced its stake in Allergan plc (NYSE:AGN) by 12.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,810 shares of the company’s stock after selling 5,335 shares during the quarter. Allergan makes up 1.8% of South Street Advisors LLC’s investment portfolio, making the stock its 27th largest holding. South Street Advisors LLC’s holdings in Allergan were worth $6,021,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of Allergan by 479.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,768 shares of the company’s stock valued at $289,000 after purchasing an additional 1,463 shares during the last quarter. Peloton Wealth Strategists increased its position in shares of Allergan by 37.1% during the 3rd quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock valued at $2,149,000 after purchasing an additional 2,835 shares during the last quarter. Vantage Financial Partners Ltd. Inc. increased its position in shares of Allergan by 23.8% during the 4th quarter. Vantage Financial Partners Ltd. Inc. now owns 6,250 shares of the company’s stock valued at $1,018,000 after purchasing an additional 1,200 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in shares of Allergan by 35.9% during the 4th quarter. Coronation Fund Managers Ltd. now owns 203,238 shares of the company’s stock valued at $33,246,000 after purchasing an additional 53,653 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new stake in shares of Allergan during the 4th quarter valued at $3,830,000. 77.96% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Brent L. Saunders bought 3,300 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was acquired at an average price of $152.53 per share, for a total transaction of $503,349.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph H. Boccuzi bought 900 shares of the business’s stock in a transaction on Monday, March 5th. The stock was bought at an average price of $143.42 per share, with a total value of $129,078.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 7,200 shares of company stock valued at $1,108,267. 0.36% of the stock is owned by corporate insiders.
Allergan (NYSE:AGN) last issued its earnings results on Tuesday, February 6th. The company reported $4.86 EPS for the quarter, topping the consensus estimate of $4.74 by $0.12. Allergan had a positive return on equity of 8.43% 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 quarter last year, the company earned $3.90 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. sell-side analysts predict that Allergan plc will post 15.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.72%. This is an increase from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio (DPR) is currently -21.46%.
Several brokerages have recently issued reports on AGN. Royal Bank of Canada reaffirmed a “buy” rating and set a $213.00 target price on shares of Allergan in a research report on Wednesday, March 14th. Vetr lowered Allergan from a “strong-buy” rating to a “buy” rating and set a $183.43 target price for the company. in a research report on Thursday. JPMorgan Chase & Co. set a $265.00 target price on Allergan and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald set a $191.00 target price on Allergan and gave the company a “hold” rating in a research report on Saturday, December 2nd. Finally, ValuEngine lowered Allergan from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $224.02.
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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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