19,700 Shares in Allergan plc (NYSE:AGN) Acquired by Kellner Capital LLC
Kellner Capital LLC acquired a new position in Allergan plc (NYSE:AGN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,700 shares of the company’s stock, valued at approximately $3,298,000. Allergan accounts for 1.5% of Kellner Capital LLC’s portfolio, making the stock its 23rd largest holding.
A number of other institutional investors have also modified their holdings of the stock. Clearbridge Investments LLC lifted its stake in Allergan by 8.6% during the first quarter. Clearbridge Investments LLC now owns 9,167,006 shares of the company’s stock worth $1,342,141,000 after purchasing an additional 726,688 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Allergan by 6.5% during the first quarter. Artisan Partners Limited Partnership now owns 6,767,753 shares of the company’s stock worth $990,867,000 after purchasing an additional 410,746 shares in the last quarter. FMR LLC lifted its stake in Allergan by 42.0% during the first quarter. FMR LLC now owns 6,042,005 shares of the company’s stock worth $884,611,000 after purchasing an additional 1,788,265 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Allergan by 27.6% during the first quarter. Janus Henderson Group PLC now owns 5,855,576 shares of the company’s stock worth $857,312,000 after purchasing an additional 1,265,742 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Allergan by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock worth $533,767,000 after purchasing an additional 247,743 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.
Shares of NYSE AGN traded up $1.83 during mid-day trading on Wednesday, hitting $160.95. The company had a trading volume of 1,399,334 shares, compared to its average volume of 4,809,511. The company has a market capitalization of $52.42 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.03 and a quick ratio of 0.91. Allergan plc has a 1-year low of $114.27 and a 1-year high of $197.00. The business’s 50-day simple moving average is $162.54 and its 200 day simple moving average is $145.87.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 13th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, August 12th. Allergan’s dividend payout ratio is presently 17.74%.
A number of research analysts have commented on the company. Wells Fargo & Co restated a “buy” rating and set a $176.00 price target (down from $188.00) on shares of Allergan in a research note on Wednesday, August 14th. JPMorgan Chase & Co. set a $200.00 price target on Allergan and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Sanford C. Bernstein cut Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price target on the stock. in a research note on Tuesday, July 16th. Cantor Fitzgerald increased their price objective on Allergan from $125.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Leerink Swann cut Allergan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $217.00 to $188.00 in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $179.43.
Allergan Company Profile
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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