Alerus Financial NA reduced its stake in Allergan plc (NYSE:AGN) by 10.0% during the first quarter, Holdings Channel reports. The fund owned 17,890 shares of the company’s stock after selling 1,986 shares during the period. Alerus Financial NA’s holdings in Allergan plc were worth $4,274,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Allergan plc during the fourth quarter valued at approximately $682,333,000. Appaloosa LP raised its position in Allergan plc by 249.8% in the fourth quarter. Appaloosa LP now owns 4,261,406 shares of the company’s stock valued at $894,938,000 after buying an additional 3,043,097 shares during the period. Edgewood Management LLC acquired a new position in Allergan plc during the fourth quarter valued at approximately $530,518,000. Baupost Group LLC MA raised its position in Allergan plc by 71.5% in the fourth quarter. Baupost Group LLC MA now owns 3,432,603 shares of the company’s stock valued at $720,881,000 after buying an additional 1,430,625 shares during the period. Finally, Lazard Asset Management LLC raised its position in Allergan plc by 53.8% in the third quarter. Lazard Asset Management LLC now owns 3,017,790 shares of the company’s stock valued at $695,025,000 after buying an additional 1,055,305 shares during the period. 86.40% of the stock is owned by institutional investors.
Shares of Allergan plc (NYSE:AGN) opened at 231.19 on Friday. The firm has a market cap of $77.47 billion, a price-to-earnings ratio of 7.20 and a beta of 1.07. Allergan plc has a 12-month low of $184.50 and a 12-month high of $261.27. The stock’s 50 day moving average is $239.15 and its 200-day moving average is $222.31.
Allergan plc (NYSE:AGN) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Allergan plc had a return on equity of 7.21% and a net margin of 100.04%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. On average, analysts anticipate that Allergan plc will post $16.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, May 16th.
AGN has been the subject of a number of analyst reports. Vetr raised shares of Allergan plc from a “hold” rating to a “buy” rating and set a $224.07 target price for the company in a research note on Monday, January 23rd. Deutsche Bank AG boosted their target price on shares of Allergan plc from $262.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, March 28th. Piper Jaffray Companies set a $205.00 target price on shares of Allergan plc and gave the company a “hold” rating in a research note on Wednesday, February 22nd. Royal Bank of Canada set a $279.00 target price on shares of Allergan plc and gave the company a “buy” rating in a research note on Wednesday, April 12th. Finally, Leerink Swann boosted their target price on shares of Allergan plc to $280.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $267.21.
In other Allergan plc news, Director Paul Bisaro sold 70,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $246.68, for a total transaction of $17,267,600.00. Following the transaction, the director now directly owns 274,226 shares in the company, valued at approximately $67,646,069.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.
Allergan plc 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).