Lido Advisors LLC lowered its position in shares of Allergan plc (NYSE:AGN) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,172 shares of the company’s stock after selling 95 shares during the period. Lido Advisors LLC’s holdings in Allergan were worth $423,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Allergan by 2.9% during the fourth quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock worth $2,869,149,000 after acquiring an additional 600,535 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Allergan by 14,208.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock worth $155,000 after acquiring an additional 20,617,639 shares during the last quarter. Longview Partners Guernsey LTD grew its position in shares of Allergan by 288.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock worth $805,450,000 after acquiring an additional 4,475,447 shares during the last quarter. Edgewood Management LLC grew its position in shares of Allergan by 1.5% during the third quarter. Edgewood Management LLC now owns 5,815,362 shares of the company’s stock worth $1,107,710,000 after acquiring an additional 86,971 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Allergan by 1.7% during the third quarter. Franklin Resources Inc. now owns 5,131,825 shares of the company’s stock worth $977,516,000 after acquiring an additional 84,911 shares during the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.
Shares of NYSE AGN opened at $151.25 on Friday. Allergan plc has a twelve month low of $125.84 and a twelve month high of $197.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market capitalization of $49.83 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33.
Allergan announced that its board has approved a share repurchase plan on Tuesday, January 29th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 15th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Thursday, February 14th. This is a positive change from Allergan’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 1.96%. Allergan’s dividend payout ratio is currently 17.74%.
In other news, Chairman Brent L. Saunders acquired 1,760 shares of Allergan stock in a transaction on Thursday, March 7th. The stock was bought at an average cost of $143.67 per share, with a total value of $252,859.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the stock. Royal Bank of Canada set a $220.00 price objective on shares of Allergan and gave the stock a “buy” rating in a report on Friday, November 30th. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Credit Suisse Group set a $200.00 price objective on shares of Allergan and gave the stock a “buy” rating in a report on Thursday, December 13th. Morgan Stanley downgraded shares of Allergan from an “overweight” rating to an “equal weight” rating and set a $156.00 price objective for the company. in a report on Wednesday, January 30th. Finally, Mizuho reduced their price objective on shares of Allergan to $200.00 and set a “buy” rating for the company in a report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $193.32.
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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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