Allergan plc (AGN) Stake Raised by American International Group Inc.

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American International Group Inc. raised its holdings in Allergan plc (NYSE:AGN) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,638 shares of the company’s stock after buying an additional 2,197 shares during the quarter. American International Group Inc.’s holdings in Allergan were worth $18,112,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AGN. Edgewood Management LLC boosted its position in shares of Allergan by 24.3% during the first quarter. Edgewood Management LLC now owns 5,584,109 shares of the company’s stock valued at $939,750,000 after purchasing an additional 1,092,584 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Allergan by 3.8% during the first quarter. Franklin Resources Inc. now owns 5,385,943 shares of the company’s stock valued at $906,410,000 after purchasing an additional 198,257 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Allergan by 1.4% during the first quarter. The Manufacturers Life Insurance Company now owns 4,254,493 shares of the company’s stock valued at $715,989,000 after purchasing an additional 58,722 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Allergan by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after purchasing an additional 99,490 shares in the last quarter. Finally, Parnassus Investments CA boosted its position in shares of Allergan by 3.1% during the second quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock valued at $307,566,000 after purchasing an additional 55,029 shares in the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.

Shares of NYSE:AGN opened at $185.60 on Monday. The firm has a market cap of $62.46 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.38 and a beta of 1.16. Allergan plc has a 12-month low of $142.81 and a 12-month high of $237.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85.

Allergan (NYSE:AGN) last announced its quarterly earnings data on Thursday, July 26th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.13 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Allergan had a positive return on equity of 8.60% and a negative net margin of 10.29%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.02 earnings per share. research analysts anticipate that Allergan plc will post 16.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, August 16th. Allergan’s dividend payout ratio is currently 17.61%.

AGN has been the topic of several research reports. ValuEngine lowered Allergan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Evercore ISI initiated coverage on Allergan in a research report on Monday, April 23rd. They set an “outperform” rating on the stock. Citigroup restated a “buy” rating and set a $200.00 price target (down from $220.00) on shares of Allergan in a research report on Tuesday, April 24th. Zacks Investment Research upgraded Allergan from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a research report on Tuesday, July 24th. Finally, Wells Fargo & Co set a $245.00 price target on Allergan and gave the company a “buy” rating in a research report on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $209.48.

Allergan Profile

Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, women's health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimer's disease.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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