Korea Investment CORP reduced its position in Allergan plc (NYSE:AGN) by 21.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,813 shares of the company’s stock after selling 53,000 shares during the quarter. Korea Investment CORP owned about 0.06% of Allergan worth $32,313,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Edgewood Management LLC lifted its position in Allergan by 2.6% during the second quarter. Edgewood Management LLC now owns 5,728,391 shares of the company’s stock valued at $955,037,000 after purchasing an additional 144,282 shares during the last quarter. Franklin Resources Inc. lifted its position in 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 during the last quarter. Janus Henderson Group PLC raised its stake in shares of Allergan by 16.3% during the second quarter. Janus Henderson Group PLC now owns 4,778,699 shares of the company’s stock worth $796,712,000 after acquiring an additional 668,343 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake 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 worth $715,989,000 after acquiring an additional 58,722 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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 worth $591,116,000 after acquiring an additional 99,490 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.
Shares of NYSE AGN opened at $191.24 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. Allergan plc has a 52 week low of $142.81 and a 52 week high of $237.41. The firm has a market capitalization of $65.07 billion, a P/E ratio of 11.70, a PEG ratio of 1.47 and a beta of 1.21.
Allergan (NYSE:AGN) last issued its earnings results on Thursday, July 26th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.13 by $0.29. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $4.02 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. analysts anticipate that Allergan plc will post 16.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Investors 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 1.51%. The ex-dividend date of this dividend is Thursday, August 16th. Allergan’s payout ratio is 17.61%.
In other news, Director Joseph H. Boccuzi bought 900 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were bought at an average cost of $190.59 per share, with a total value of $171,531.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by insiders.
Several research analysts have commented on AGN shares. Zacks Investment Research raised shares of Allergan from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a research note on Monday, July 2nd. Credit Suisse Group set a $213.00 price target on shares of Allergan and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Bank of America lifted their price target on shares of Allergan from $209.00 to $213.00 and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Sanford C. Bernstein set a $232.00 price target on shares of Allergan and gave the stock a “buy” rating in a research note on Friday, June 8th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research note on Tuesday, June 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $210.10.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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