Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Allergan PLC. (NYSE:AGN) by 58.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,815 shares of the company’s stock after selling 41,590 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Allergan were worth $6,136,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Engineers Gate Manager LP bought a new stake in shares of Allergan in the 3rd quarter valued at approximately $1,716,000. Clear Perspective Advisors LLC increased its holdings in shares of Allergan by 314.6% in the 3rd quarter. Clear Perspective Advisors LLC now owns 995 shares of the company’s stock valued at $204,000 after acquiring an additional 755 shares during the last quarter. Brave Asset Management Inc. increased its holdings in shares of Allergan by 25.9% in the 3rd quarter. Brave Asset Management Inc. now owns 6,851 shares of the company’s stock valued at $1,404,000 after acquiring an additional 1,409 shares during the last quarter. Aureus Asset Management LLC increased its holdings in shares of Allergan by 2.8% in the 3rd quarter. Aureus Asset Management LLC now owns 60,162 shares of the company’s stock valued at $12,330,000 after acquiring an additional 1,636 shares during the last quarter. Finally, Northeast Investment Management increased its holdings in shares of Allergan by 14.7% in the 3rd quarter. Northeast Investment Management now owns 43,683 shares of the company’s stock valued at $8,953,000 after acquiring an additional 5,613 shares during the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.
Allergan PLC. (NYSE AGN) opened at $167.80 on Friday. Allergan PLC. has a 12-month low of $160.07 and a 12-month high of $256.80. The stock has a market capitalization of $54,832.97, a P/E ratio of 10.69, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18.
Allergan declared that its Board of Directors has initiated a share buyback program on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 1.67%. Allergan’s dividend payout ratio is currently -12.44%.
In other Allergan news, Director Chris W. Bodine purchased 3,030 shares of Allergan stock in a transaction on Thursday, December 7th. The stock was bought at an average price of $164.77 per share, for a total transaction of $499,253.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William Meury sold 11,807 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. Insiders have purchased a total of 17,630 shares of company stock valued at $2,890,057 in the last 90 days. Insiders own 0.36% of the company’s stock.
A number of brokerages have recently weighed in on AGN. Argus downgraded Allergan from a “buy” rating to a “hold” rating and lowered their price target for the company from $256.80 to $160.07 in a report on Thursday. Vetr downgraded Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price target for the company. in a report on Wednesday. Morgan Stanley set a $200.00 price target on Allergan and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company reiterated a “buy” rating on shares of Allergan in a report on Wednesday. Finally, TheStreet downgraded Allergan from a “c-” rating to a “d+” rating in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. Allergan currently has a consensus rating of “Buy” and an average price target of $235.25.
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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