Levin Capital Strategies L.P. Reduces Stake in Allergan PLC. (AGN)

Levin Capital Strategies L.P. decreased its position in shares of Allergan PLC. (NYSE:AGN) by 19.0% during the first quarter, Holdings Channel reports. The institutional investor owned 123,676 shares of the company’s stock after selling 28,997 shares during the period. Levin Capital Strategies L.P.’s holdings in Allergan PLC. were worth $29,549,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Turner Investments LLC acquired a new stake in shares of Allergan PLC. during the fourth quarter worth $1,420,000. Syntal Capital Partners LLC acquired a new stake in shares of Allergan PLC. during the fourth quarter worth $585,000. Artisan Partners Limited Partnership acquired a new stake in shares of Allergan PLC. during the fourth quarter worth $50,743,000. Van ECK Associates Corp increased its stake in shares of Allergan PLC. by 11.1% in the fourth quarter. Van ECK Associates Corp now owns 360,317 shares of the company’s stock worth $75,670,000 after buying an additional 36,052 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. ADV acquired a new stake in shares of Allergan PLC. during the fourth quarter worth $940,000. 84.63% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Allergan PLC. (NYSE:AGN)

Shares of Allergan PLC. (NYSE:AGN) opened at 247.11 on Friday. Allergan PLC. has a 52 week low of $184.50 and a 52 week high of $261.27. The firm has a market capitalization of $83.00 billion, a price-to-earnings ratio of 7.70 and a beta of 1.16. The stock has a 50 day moving average of $230.38 and a 200-day moving average of $227.81. Allergan PLC. also saw some unusual options trading activity on Thursday. Stock investors purchased 1,368 call options on the stock. This is an increase of approximately 235% compared to the typical daily volume of 408 call options.

Allergan PLC. (NYSE:AGN) last issued its earnings results on Tuesday, May 9th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. Allergan PLC. had a net margin of 82.42% and a return on equity of 7.29%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. Analysts expect that Allergan PLC. will post $16.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 18th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, May 16th. Allergan PLC.’s payout ratio is 9.63%.

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A number of equities research analysts recently weighed in on AGN shares. Vetr raised shares of Allergan PLC. from a “hold” rating to a “buy” rating and set a $256.33 price objective for the company in a research report on Wednesday, March 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $279.00 price objective on shares of Allergan PLC. in a research report on Tuesday, March 14th. Deutsche Bank AG boosted their price objective on shares of Allergan PLC. from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, March 28th. Citigroup Inc. reaffirmed a “focus list” rating and set a $261.27 price objective (up previously from $184.50) on shares of Allergan PLC. in a research report on Friday, April 21st. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Allergan PLC. from a “buy” rating to a “neutral” rating and set a $262.00 price objective for the company. in a research report on Wednesday, May 10th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $270.91.

In related news, Director Nesli Basgoz sold 1,889 shares of Allergan PLC. stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $220.45, for a total transaction of $416,430.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.36% of the stock is owned by company insiders.

About Allergan PLC.

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).

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