Nisa Investment Advisors LLC Sells 7,724 Shares of Allergan plc (AGN)
Nisa Investment Advisors LLC decreased its position in shares of Allergan plc (NYSE:AGN) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,569 shares of the company’s stock after selling 7,724 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Allergan were worth $13,675,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new stake in shares of Allergan during the second quarter valued at approximately $103,000. Cable Hill Partners LLC increased its holdings in shares of Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after acquiring an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. increased its holdings in shares of Allergan by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after acquiring an additional 400 shares in the last quarter. Massey Quick & Co. LLC increased its holdings in shares of Allergan by 334.8% during the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after acquiring an additional 385 shares in the last quarter. Finally, Pacific Center for Financial Services increased its holdings in shares of Allergan by 1.3% during the second quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock valued at $132,000 after acquiring an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.
Allergan plc (NYSE AGN) opened at $176.05 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. Allergan plc has a 1 year low of $160.07 and a 1 year high of $256.80. The firm has a market capitalization of $58,551.24, a price-to-earnings ratio of -7.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11.
Allergan (NYSE:AGN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm earned $3.32 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. equities analysts expect that Allergan plc will post 16.27 EPS for the current year.
Allergan declared that its board has authorized a stock buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.59%. Allergan’s dividend payout ratio is currently -12.44%.
In other Allergan news, Chairman Brent L. Saunders acquired 4,600 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were acquired at an average price of $164.74 per share, with a total value of $757,804.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Meury sold 11,807 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. In the last three months, insiders acquired 17,630 shares of company stock worth $2,890,057. Insiders own 0.36% of the company’s stock.
Several equities research analysts recently issued reports on the company. Citigroup decreased their price target on Allergan to $215.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Vetr downgraded Allergan from a “buy” rating to a “hold” rating and set a $180.97 price target for the company. in a report on Wednesday. ValuEngine downgraded Allergan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Royal Bank of Canada set a $218.00 price target on Allergan and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Mizuho reiterated a “buy” rating and set a $267.00 price target on shares of Allergan in a report on Monday, September 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Allergan has a consensus rating of “Hold” and an average target price of $226.95.
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.
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