Cubist Systematic Strategies LLC lifted its holdings in shares of Allergan PLC. (NYSE:AGN) by 525.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,731 shares of the company’s stock after purchasing an additional 7,335 shares during the period. Cubist Systematic Strategies LLC’s holdings in Allergan were worth $1,789,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Honeywell International Inc. increased its stake in shares of Allergan by 13.6% during the 2nd quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock worth $40,871,000 after purchasing an additional 20,100 shares in the last quarter. Peloton Wealth Strategists boosted its position in Allergan by 37.1% during the third quarter. Peloton Wealth Strategists now owns 10,485 shares of the company’s stock worth $2,149,000 after acquiring an additional 2,835 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in Allergan by 39.0% during the third quarter. Sumitomo Life Insurance Co. now owns 15,122 shares of the company’s stock worth $3,099,000 after acquiring an additional 4,244 shares during the last quarter. Fairbanks Capital Management Inc. boosted its position in Allergan by 1.3% during the second quarter. Fairbanks Capital Management Inc. now owns 5,480 shares of the company’s stock worth $1,332,000 after acquiring an additional 70 shares during the last quarter. Finally, Colony Group LLC boosted its position in Allergan by 9.9% during the second quarter. Colony Group LLC now owns 39,802 shares of the company’s stock worth $9,675,000 after acquiring an additional 3,577 shares during the last quarter. 81.34% of the stock is owned by institutional investors and hedge funds.
Allergan PLC. (AGN) opened at $171.68 on Friday. The firm has a market cap of $56,851.75, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. Allergan PLC. has a 1-year low of $160.07 and a 1-year high of $256.80. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.63%. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
Allergan declared that its board has authorized a stock buyback plan on Monday, September 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of brokerages recently issued reports on AGN. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price (down previously from $277.00) on shares of Allergan in a research report on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 target price on shares of Allergan and gave the stock a “buy” rating in a research report on Sunday, October 22nd. Mizuho restated a “buy” rating and set a $267.00 target price on shares of Allergan in a research report on Monday, September 25th. BidaskClub lowered shares of Allergan from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $258.00 target price on shares of Allergan in a research report on Wednesday, October 18th. 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 company’s stock. The stock currently has an average rating of “Buy” and an average price target of $235.25.
In other Allergan news, Director Christopher J. Coughlin bought 10,000 shares of Allergan stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average price of $163.30 per share, for a total transaction of $1,633,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Meury sold 11,807 shares of Allergan stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. In the last quarter, insiders acquired 17,630 shares of company stock worth $2,890,057. 0.36% of the stock is owned by company insiders.
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Allergan 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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