Tealwood Asset Management Inc. lowered its stake in shares of Allergan plc (NYSE:AGN) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,975 shares of the company’s stock after selling 608 shares during the period. Tealwood Asset Management Inc.’s holdings in Allergan were worth $1,141,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Pacific Center for Financial Services increased its holdings in shares of Allergan by 1.3% in the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock worth $132,000 after purchasing an additional 7 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Allergan by 1.4% in the second quarter. Quadrant Capital Group LLC now owns 1,201 shares of the company’s stock worth $235,000 after purchasing an additional 16 shares during the period. Ropes Wealth Advisors LLC increased its holdings in shares of Allergan by 5.2% in the second quarter. Ropes Wealth Advisors LLC now owns 605 shares of the company’s stock worth $147,000 after purchasing an additional 30 shares during the period. Citizens Financial Group Inc RI increased its holdings in shares of Allergan by 4.1% in the second quarter. Citizens Financial Group Inc RI now owns 858 shares of the company’s stock worth $209,000 after purchasing an additional 34 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in shares of Allergan by 0.4% in the second quarter. Raymond James Trust N.A. now owns 8,904 shares of the company’s stock worth $2,164,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.
Allergan plc (NYSE AGN) opened at $181.33 on Friday. The company has a market capitalization of $59,750.00, a price-to-earnings ratio of -8.03, a P/E/G ratio of 1.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. Allergan plc has a 12 month low of $160.07 and a 12 month high of $256.80.
Allergan announced that its board has initiated a stock repurchase plan on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other Allergan news, Director Chris W. Bodine purchased 3,030 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was acquired at an average cost of $164.77 per share, for a total transaction of $499,253.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Meury sold 11,807 shares of the company’s stock in a transaction dated 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 three months, insiders purchased 17,630 shares of company stock worth $2,890,057. 0.36% of the stock is owned by insiders.
Several research analysts have recently weighed in on AGN shares. Cantor Fitzgerald set a $191.00 price target on shares of Allergan and gave the stock a “hold” rating in a report on Tuesday, December 12th. Credit Suisse Group set a $243.00 price target on shares of Allergan and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Citigroup decreased their price target on shares of Allergan from $280.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, October 19th. Deutsche Bank reaffirmed a “buy” rating and issued a $215.00 price target on shares of Allergan in a report on Tuesday, January 9th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $226.95.
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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