Shelton Capital Management acquired a new stake in Allergan PLC. (NYSE:AGN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,040 shares of the company’s stock, valued at approximately $739,000.
A number of other large investors have also recently bought and sold shares of AGN. Veritas Asset Management LLP purchased a new stake in Allergan PLC. in the 1st quarter valued at about $761,339,000. Iridian Asset Management LLC CT increased its stake in Allergan PLC. by 141.3% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,283,833 shares of the company’s stock valued at $306,733,000 after buying an additional 751,848 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Allergan PLC. in the 1st quarter valued at about $124,255,000. Vanguard Group Inc. increased its stake in Allergan PLC. by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock valued at $5,551,128,000 after buying an additional 482,220 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. increased its stake in Allergan PLC. by 24.1% in the 1st quarter. Blue Ridge Capital L.L.C. now owns 1,909,900 shares of the company’s stock valued at $456,313,000 after buying an additional 370,400 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
Allergan PLC. (NYSE:AGN) opened at 204.08 on Friday. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80. The stock has a market capitalization of $68.23 billion, a price-to-earnings ratio of 6.22 and a beta of 1.15. The company has a 50-day moving average of $216.44 and a 200-day moving average of $232.29.
Allergan PLC. (NYSE:AGN) last announced its earnings results on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, beating the Zacks’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a net margin of 79.17% and a return on equity of 7.37%. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the company earned $3.35 earnings per share. The firm’s 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 fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.37%. Allergan PLC.’s dividend payout ratio (DPR) is presently 9.95%.
Allergan PLC. announced that its Board of Directors has initiated a share buyback program on Monday, September 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have commented on the stock. Wells Fargo & Company set a $276.00 price objective on shares of Allergan PLC. and gave the company a “buy” rating in a research note on Friday. Piper Jaffray Companies set a $227.00 price objective on shares of Allergan PLC. and gave the company a “hold” rating in a research note on Friday. Cantor Fitzgerald set a $231.00 price objective on shares of Allergan PLC. and gave the company a “hold” rating in a research note on Thursday. Cowen and Company reiterated a “buy” rating on shares of Allergan PLC. in a research note on Thursday. Finally, Barclays PLC restated an “equal weight” rating on shares of Allergan PLC. in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $271.44.
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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