Steward Partners Investment Advisory LLC Lowers Holdings in Allergan plc (NYSE:AGN)

Steward Partners Investment Advisory LLC decreased its holdings in Allergan plc (NYSE:AGN) by 87.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,249 shares of the company’s stock after selling 8,392 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Allergan were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AGN. Bowling Portfolio Management LLC grew its holdings in shares of Allergan by 6.6% during the 2nd quarter. Bowling Portfolio Management LLC now owns 24,067 shares of the company’s stock worth $4,030,000 after purchasing an additional 1,484 shares during the period. Towerview LLC purchased a new stake in shares of Allergan during the 2nd quarter worth about $837,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Allergan during the 2nd quarter worth about $571,000. Hanson McClain Inc. grew its holdings in shares of Allergan by 254.5% during the 2nd quarter. Hanson McClain Inc. now owns 709 shares of the company’s stock worth $119,000 after purchasing an additional 509 shares during the period. Finally, RNC Capital Management LLC grew its holdings in shares of Allergan by 2.6% during the 2nd quarter. RNC Capital Management LLC now owns 34,030 shares of the company’s stock worth $5,698,000 after purchasing an additional 865 shares during the period. Institutional investors own 77.81% of the company’s stock.

Shares of AGN opened at $159.94 on Wednesday. The firm has a 50 day simple moving average of $163.66. Allergan plc has a 52-week low of $114.27 and a 52-week high of $197.00. The firm has a market cap of $52.43 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.49 and a current ratio of 1.69.

Allergan (NYSE:AGN) last announced its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the company posted $4.42 EPS. Allergan’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Allergan plc will post 16.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 13th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, August 12th. Allergan’s payout ratio is 17.74%.

Several equities analysts recently commented on AGN shares. Svb Leerink reissued a “market perform” rating and set a $188.00 price target (down from $217.00) on shares of Allergan in a research report on Thursday, July 18th. Leerink Swann lowered Allergan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $217.00 to $188.00 in a research report on Thursday, July 18th. Barclays boosted their price target on Allergan from $176.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Sanford C. Bernstein lowered Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price target on the stock. in a research report on Tuesday, July 16th. Finally, Goldman Sachs Group started coverage on Allergan in a research report on Tuesday, May 28th. They set a “neutral” rating and a $154.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $180.00.

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.

Further Reading: Return on Equity (ROE)

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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