Twin Capital Management Inc. Cuts Stake in Allergan plc (NYSE:AGN)

Twin Capital Management Inc. lessened its stake in shares of Allergan plc (NYSE:AGN) by 39.6% during the second quarter, HoldingsChannel.com reports. The fund owned 24,767 shares of the company’s stock after selling 16,263 shares during the quarter. Twin Capital Management Inc.’s holdings in Allergan were worth $4,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Liberty Wealth Management LLC boosted its holdings in shares of Allergan by 35.3% during the 2nd quarter. Liberty Wealth Management LLC now owns 257 shares of the company’s stock valued at $43,000 after acquiring an additional 67 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Allergan by 1.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 4,274 shares of the company’s stock worth $626,000 after purchasing an additional 75 shares during the period. Berman Capital Advisors LLC lifted its stake in shares of Allergan by 48.8% in the 1st quarter. Berman Capital Advisors LLC now owns 238 shares of the company’s stock worth $34,000 after purchasing an additional 78 shares during the period. Founders Financial Securities LLC lifted its stake in shares of Allergan by 2.0% in the 1st quarter. Founders Financial Securities LLC now owns 4,300 shares of the company’s stock worth $630,000 after purchasing an additional 84 shares during the period. Finally, CWM LLC lifted its stake in shares of Allergan by 31.4% in the 1st quarter. CWM LLC now owns 356 shares of the company’s stock worth $52,000 after purchasing an additional 85 shares during the period. 77.81% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on AGN shares. JPMorgan Chase & Co. set a $200.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Cantor Fitzgerald increased their price objective on shares of Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. UBS Group lowered their price objective on shares of Allergan from $173.00 to $172.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. SunTrust Banks increased their price objective on shares of Allergan to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $176.00 price objective (down previously from $188.00) on shares of Allergan in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $179.43.

NYSE AGN traded up $1.78 on Friday, reaching $158.12. 107,255 shares of the stock were exchanged, compared to its average volume of 4,775,287. Allergan plc has a one year low of $114.27 and a one year high of $197.00. The firm has a market capitalization of $51.54 billion, a PE ratio of 9.49, a PEG ratio of 1.65 and a beta of 1.63. The company’s 50-day simple moving average is $163.38 and its two-hundred day simple moving average is $145.53. The company has a current ratio of 1.03, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

Allergan (NYSE:AGN) last released its earnings results on Tuesday, August 6th. The company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.34 by $0.04. Allergan had a negative net margin of 54.25% and a positive return on equity of 8.73%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the business earned $4.42 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that Allergan plc will post 16.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 13th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, August 12th. Allergan’s payout ratio is 17.74%.

About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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