Sun Life Financial INC grew its position in shares of Allergan PLC. (NYSE:AGN) by 319.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,500 shares of the company’s stock after acquiring an additional 1,142 shares during the quarter. Sun Life Financial INC’s holdings in Allergan PLC. were worth $365,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in AGN. Vanguard Group Inc. raised its stake in shares of Allergan PLC. by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after purchasing an additional 482,220 shares in the last quarter. Northern Trust Corp raised its stake in shares of Allergan PLC. by 8.8% during the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock valued at $1,092,189,000 after purchasing an additional 364,722 shares in the last quarter. Veritas Asset Management LLP bought a new stake in shares of Allergan PLC. during the first quarter valued at about $761,339,000. Edgewood Management LLC raised its stake in shares of Allergan PLC. by 7.0% during the first quarter. Edgewood Management LLC now owns 2,704,211 shares of the company’s stock valued at $646,090,000 after purchasing an additional 178,055 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in shares of Allergan PLC. by 3.8% during the first quarter. Epoch Investment Partners Inc. now owns 2,013,415 shares of the company’s stock valued at $481,045,000 after purchasing an additional 73,081 shares in the last quarter. 82.04% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on AGN shares. Morgan Stanley cut shares of Allergan PLC. from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $284.00 to $228.00 in a research note on Wednesday, September 20th. Cowen and Company restated an “outperform” rating and set a $400.00 price objective on shares of Allergan PLC. in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a research note on Tuesday, July 11th. Wells Fargo & Company restated an “outperform” rating on shares of Allergan PLC. in a research note on Monday, September 11th. Finally, Deutsche Bank AG restated a “buy” rating and set a $262.00 price objective on shares of Allergan PLC. in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Allergan PLC. presently has an average rating of “Buy” and an average target price of $271.64.
Allergan PLC. (NYSE AGN) opened at 207.42 on Wednesday. The stock has a market cap of $69.34 billion, a PE ratio of 6.32 and a beta of 1.15. The company has a 50-day moving average price of $217.45 and a 200-day moving average price of $232.69. Allergan PLC. has a 52 week low of $184.50 and a 52 week high of $256.80.
Allergan PLC. (NYSE:AGN) last released its earnings results on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the firm posted $3.35 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Allergan PLC. will post $16.21 earnings per share for the current year.
Allergan PLC. declared that its board has authorized a stock repurchase plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, August 16th. Allergan PLC.’s payout ratio is 9.95%.
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Allergan PLC. 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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