Scharf Investments LLC Grows Position in Allergan PLC. (AGN)

Scharf Investments LLC lifted its stake in shares of Allergan PLC. (NYSE:AGN) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 889,259 shares of the company’s stock after acquiring an additional 12,862 shares during the period. Allergan accounts for about 4.4% of Scharf Investments LLC’s portfolio, making the stock its 10th largest position. Scharf Investments LLC owned approximately 0.27% of Allergan worth $182,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Allergan by 2.2% during the second quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after buying an additional 482,220 shares during the last quarter. Northern Trust Corp raised its holdings in Allergan by 8.8% during the second quarter. Northern Trust Corp now owns 4,492,944 shares of the company’s stock worth $1,092,189,000 after buying an additional 364,722 shares during the last quarter. Edgewood Management LLC raised its holdings in Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after buying an additional 869,248 shares during the last quarter. Baupost Group LLC MA raised its holdings in Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after buying an additional 531,600 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Allergan by 1.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock worth $370,060,000 after buying an additional 17,068 shares during the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.

Allergan PLC. (AGN) opened at $168.00 on Thursday. The firm has a market cap of $54,636.75, a PE ratio of 10.65, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Allergan PLC. has a 1 year low of $160.07 and a 1 year high of $256.80.

Allergan (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. Allergan had a negative net margin of 47.27% and a positive return on equity of 8.00%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.32 earnings per share. equities analysts forecast that Allergan PLC. will post 16.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 1.67%. Allergan’s dividend payout ratio is presently -12.44%.

Allergan declared that its Board of Directors has authorized a share repurchase program on Monday, September 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several analysts have recently commented on AGN shares. Vetr downgraded shares of Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 target price for the company. in a report on Wednesday. Morgan Stanley set a $200.00 target price on shares of Allergan and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company reiterated a “buy” rating on shares of Allergan in a report on Wednesday. TheStreet downgraded shares of Allergan from a “c-” rating to a “d+” rating in a report on Monday. Finally, Cantor Fitzgerald set a $191.00 target price on shares of Allergan and gave the company a “hold” rating in a report on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Allergan currently has a consensus rating of “Buy” and a consensus target price of $241.56.

In other Allergan news, insider William Meury sold 11,807 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher J. Coughlin bought 10,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were acquired at an average price of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.

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Allergan 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.

Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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