Allergan PLC. (AGN) Shares Sold by King Luther Capital Management Corp
King Luther Capital Management Corp trimmed its position in shares of Allergan PLC. (NYSE:AGN) by 17.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,028 shares of the company’s stock after selling 5,108 shares during the period. King Luther Capital Management Corp’s holdings in Allergan were worth $4,925,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Hughes Medical Institute purchased a new position in Allergan during the 2nd quarter worth approximately $103,000. Cable Hill Partners LLC grew its position in Allergan by 255.2% during the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after purchasing an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. grew its position in Allergan by 283.7% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after purchasing an additional 400 shares in the last quarter. Jacobi Capital Management LLC grew its position in Allergan by 4.9% during the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after purchasing an additional 22 shares in the last quarter. Finally, Massey Quick & Co. LLC grew its position in Allergan by 334.8% during the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after purchasing an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.
Several equities analysts have weighed in on the stock. UBS reiterated an “outperform” rating and set a $275.00 price objective on shares of Allergan in a research report on Wednesday, August 9th. BidaskClub cut shares of Allergan from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet cut shares of Allergan from a “c-” rating to a “d+” rating in a report on Monday. Morgan Stanley set a $200.00 price target on shares of Allergan and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company restated an “outperform” rating and set a $280.00 price target (up from $270.00) on shares of Allergan in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $241.56.
Shares of Allergan PLC. (AGN) opened at $168.00 on Thursday. The stock has a market cap of $54,636.75, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.10 and a beta of 1.11. Allergan PLC. has a fifty-two week low of $160.07 and a fifty-two week high of $256.80. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.40.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.06 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. Allergan’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.32 earnings per share. analysts anticipate that Allergan PLC. will post 16.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, November 16th. Allergan’s dividend payout ratio is -12.44%.
Allergan declared that its Board of Directors has approved a share buyback plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other Allergan news, insider William Meury sold 11,807 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
Allergan 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.
Want to see what other hedge funds are holding AGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allergan PLC. (NYSE:AGN).
Receive News & Ratings for Allergan PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC. and related companies with Analyst Ratings Network's FREE daily email newsletter.