Meeder Asset Management Inc. Acquires New Stake in Allergan PLC. (AGN)
Meeder Asset Management Inc. acquired a new position in Allergan PLC. (NYSE:AGN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,501 shares of the company’s stock, valued at approximately $1,093,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AGN. First Manhattan Co. increased its position in Allergan PLC. by 193.3% in the first quarter. First Manhattan Co. now owns 497,793 shares of the company’s stock worth $114,646,000 after buying an additional 328,062 shares during the last quarter. Personal Capital Advisors Corp increased its position in Allergan PLC. by 21.5% in the first quarter. Personal Capital Advisors Corp now owns 2,852 shares of the company’s stock worth $688,000 after buying an additional 505 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in Allergan PLC. during the first quarter worth about $103,000. Waldron LP purchased a new position in Allergan PLC. during the first quarter worth about $348,000. Finally, Nicolet Bankshares Inc. increased its position in Allergan PLC. by 133.3% in the first quarter. Nicolet Bankshares Inc. now owns 3,108 shares of the company’s stock worth $743,000 after buying an additional 1,776 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.
Allergan PLC. (NYSE:AGN) traded up 0.87% during mid-day trading on Tuesday, hitting $224.91. The stock had a trading volume of 737,519 shares. The firm’s 50-day moving average price is $242.74 and its 200-day moving average price is $238.85. Allergan PLC. has a 1-year low of $184.50 and a 1-year high of $256.80. The stock has a market cap of $75.19 billion, a PE ratio of 6.85 and a beta of 1.16. Allergan PLC. also was the target of some unusual options trading on Monday. Investors acquired 5,214 put options on the stock. This is an increase of 127% compared to the typical volume of 2,298 put options.
Allergan PLC. (NYSE:AGN) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the company earned $3.35 earnings per share. Allergan PLC.’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts expect that Allergan PLC. will post $16.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, August 16th. Allergan PLC.’s dividend payout ratio (DPR) is 9.95%.
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A number of research analysts recently issued reports on the company. Mizuho reiterated a “buy” rating and set a $267.00 price objective on shares of Allergan PLC. in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $285.00 price objective on Allergan PLC. and gave the stock a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company increased their price objective on Allergan PLC. to $278.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $273.00 price objective (up from $265.00) on shares of Allergan PLC. in a report on Monday, July 17th. Finally, BidaskClub upgraded Allergan PLC. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Allergan PLC. has an average rating of “Buy” and an average price target of $275.49.
About Allergan PLC.
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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