Putnam Investments LLC grew its stake in Allergan plc (NYSE:AGN) by 108.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,281 shares of the company’s stock after buying an additional 27,242 shares during the period. Putnam Investments LLC’s holdings in Allergan were worth $8,717,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Parkside Investments LLC raised its position in Allergan by 1.8% during the 2nd quarter. Parkside Investments LLC now owns 15,845 shares of the company’s stock worth $2,830,000 after buying an additional 275 shares during the last quarter. Avestar Capital LLC raised its position in Allergan by 25.1% during the 2nd quarter. Avestar Capital LLC now owns 1,483 shares of the company’s stock worth $230,000 after buying an additional 298 shares during the last quarter. New Jersey Better Educational Savings Trust grew its stake in shares of Allergan by 9.4% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the company’s stock worth $584,000 after purchasing an additional 300 shares during the period. Parallel Advisors LLC grew its stake in shares of Allergan by 34.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,233 shares of the company’s stock worth $205,000 after purchasing an additional 319 shares during the period. Finally, Arvest Bank Trust Division grew its stake in shares of Allergan by 0.6% during the 1st quarter. Arvest Bank Trust Division now owns 56,243 shares of the company’s stock worth $9,465,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 77.38% of the company’s stock.
In related news, Director Joseph H. Boccuzi purchased 900 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was acquired at an average price of $190.59 per share, with a total value of $171,531.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher J. Coughlin purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.
Shares of AGN traded up $1.06 during mid-day trading on Friday, reaching $183.28. 2,084,762 shares of the stock traded hands, compared to its average volume of 2,552,896. The firm has a market capitalization of $64.66 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.47 and a beta of 1.19. Allergan plc has a 12-month low of $142.81 and a 12-month high of $207.24. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.34.
Allergan (NYSE:AGN) last posted its quarterly earnings data on Thursday, July 26th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.13 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.92 billion. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.02 earnings per share. Equities analysts expect that Allergan plc will post 16.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 17th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, August 16th. Allergan’s payout ratio is currently 17.61%.
AGN has been the topic of a number of recent analyst reports. 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. Argus reaffirmed a “hold” rating on shares of Allergan in a research note on Thursday, July 5th. Mizuho reaffirmed a “neutral” rating and set a $194.00 price target on shares of Allergan in a research note on Monday, July 9th. Credit Suisse Group set a $213.00 price objective on shares of Allergan and gave the company a “buy” rating in a research note on Friday, July 13th. Finally, Wells Fargo & Co set a $240.00 price objective on shares of Allergan and gave the company a “buy” rating in a research note on Thursday, July 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $211.91.
Allergan Company Profile
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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