North Star Investment Management Corp. reduced its stake in Allergan PLC (NYSE:AGN) by 27.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 443 shares of the company’s stock after selling 166 shares during the period. North Star Investment Management Corp.’s holdings in Allergan PLC were worth $102,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Barnett & Company Inc. purchased a new stake in shares of Allergan PLC during the first quarter valued at about $111,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Allergan PLC during the second quarter worth $125,000. Trust Co. of Vermont raised its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock worth $126,000 after buying an additional 89 shares during the period. Carroll Financial Associates Inc. raised its stake in Allergan PLC by 68.7% in the third quarter. Carroll Financial Associates Inc. now owns 555 shares of the company’s stock worth $127,000 after buying an additional 226 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock worth $137,000 after buying an additional 154 shares during the period. 89.21% of the stock is owned by institutional investors and hedge funds.
Allergan PLC (NYSE:AGN) traded down 0.45% during midday trading on Friday, hitting $192.22. The company had a trading volume of 1,224,595 shares. The stock has a 50 day moving average price of $212.72 and a 200-day moving average price of $233.35. The stock has a market capitalization of $72.10 billion, a PE ratio of 5.39 and a beta of 1.08. Allergan PLC has a 52 week low of $184.50 and a 52 week high of $322.68.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $3.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.65 by $0.33. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Allergan PLC had a return on equity of 7.26% and a net margin of 93.74%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $3.48 earnings per share. On average, equities analysts predict that Allergan PLC will post $13.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.46%. This is an increase from Allergan PLC’s previous quarterly dividend of $0.05.
A number of analysts have recently weighed in on the company. William Blair reissued a “market perform” rating on shares of Allergan PLC in a research note on Monday, November 21st. Mizuho dropped their price objective on Allergan PLC from $293.00 to $273.00 and set a “buy” rating for the company in a research note on Thursday, November 17th. Vetr lowered Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $235.38 price objective for the company. in a research note on Wednesday, November 9th. RBC Capital Markets reissued an “outperform” rating and set a $279.00 price objective (down previously from $300.00) on shares of Allergan PLC in a research note on Thursday, November 3rd. Finally, Morgan Stanley dropped their price objective on Allergan PLC from $300.00 to $274.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Allergan PLC has an average rating of “Buy” and an average price target of $289.11.
In other Allergan PLC news, CFO Maria Teresa Hilado purchased 1,422 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was bought at an average cost of $210.64 per share, with a total value of $299,530.08. Following the acquisition, the chief financial officer now directly owns 12,659 shares of the company’s stock, valued at $2,666,491.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brent L. Saunders purchased 5,250 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were acquired at an average cost of $189.13 per share, with a total value of $992,932.50. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.
Allergan PLC 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.