Investors sold shares of Allergan plc (NYSE:AGN) on strength during trading on Monday. $84.96 million flowed into the stock on the tick-up and $122.57 million flowed out of the stock on the tick-down, for a money net flow of $37.61 million out of the stock. Of all companies tracked, Allergan had the 0th highest net out-flow for the day. Allergan traded up $1.13 for the day and closed at $158.41
Several research firms have commented on AGN. Leerink Swann increased their price objective on shares of Allergan from $237.00 to $242.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Vetr downgraded shares of Allergan from a “buy” rating to a “hold” rating and set a $180.97 price objective for the company. in a report on Wednesday, January 10th. Argus downgraded shares of Allergan from a “buy” rating to a “hold” rating and dropped their price objective for the company from $256.80 to $160.07 in a report on Thursday, December 7th. Cantor Fitzgerald reissued a “hold” rating and set a $191.00 price objective on shares of Allergan in a report on Tuesday, February 6th. Finally, Morgan Stanley raised shares of Allergan from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $171.92 to $200.00 in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $225.03.
The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.16. The company has a market cap of $55,180.00, a PE ratio of -13.61, a PEG ratio of 1.12 and a beta of 1.29.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.76%. This is a boost from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, February 27th. Allergan’s dividend payout ratio is currently -24.02%.
In related news, insider William Meury sold 58,879 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $160.62, for a total value of $9,457,144.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brent L. Saunders acquired 3,300 shares of Allergan stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average cost of $152.53 per share, for a total transaction of $503,349.00. The disclosure for this purchase can be found here. Insiders have bought a total of 7,200 shares of company stock worth $1,108,267 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. KCM Investment Advisors LLC raised its position in Allergan by 13.4% in the 4th quarter. KCM Investment Advisors LLC now owns 38,335 shares of the company’s stock worth $6,271,000 after purchasing an additional 4,539 shares during the period. Colonial Trust Advisors purchased a new stake in Allergan in the 4th quarter worth about $470,000. Penbrook Management LLC purchased a new stake in Allergan in the 4th quarter worth about $978,000. Massmutual Trust Co. FSB ADV raised its position in Allergan by 6.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 15,342 shares of the company’s stock worth $16,161,000 after purchasing an additional 994 shares during the period. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Allergan in the 4th quarter worth about $1,787,000. 78.40% of the stock is currently owned by institutional investors.
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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