Atria Investments LLC increased its position in Allergan plc (NYSE:AGN) by 50.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,931 shares of the company’s stock after acquiring an additional 3,341 shares during the period. Atria Investments LLC’s holdings in Allergan were worth $1,892,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in Allergan during the 2nd quarter valued at $129,000. Kaizen Advisory LLC raised its stake in Allergan by 156.2% during the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock valued at $138,000 after buying an additional 506 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Allergan by 3,193.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock valued at $165,000 after buying an additional 958 shares during the last quarter. Aries Wealth Management purchased a new stake in Allergan during the 2nd quarter valued at $202,000. Finally, Sawtooth Solutions LLC purchased a new stake in Allergan during the 2nd quarter valued at $202,000. Institutional investors own 77.38% of the company’s stock.
A number of equities research analysts have weighed in on AGN shares. Zacks Investment Research upgraded shares of Allergan from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research note on Wednesday, July 11th. Raymond James reiterated a “buy” rating and set a $232.00 target price (up from $211.00) on shares of Allergan in a research note on Monday, September 17th. Deutsche Bank set a $210.00 target price on shares of Allergan and gave the company a “buy” rating in a research note on Wednesday, September 12th. Piper Jaffray Companies set a $164.00 target price on shares of Allergan and gave the company a “hold” rating in a research note on Monday, September 17th. Finally, SunTrust Banks boosted their target price on shares of Allergan to $218.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Allergan has a consensus rating of “Buy” and an average price target of $211.91.
Shares of AGN stock opened at $183.28 on Friday. Allergan plc has a 1 year low of $142.81 and a 1 year 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. The firm has a market cap of $64.66 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.19.
Allergan (NYSE:AGN) last issued its earnings results on Thursday, July 26th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.92 billion. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. Allergan’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.02 EPS. On average, sell-side analysts forecast that Allergan plc will post 16.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 17th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, August 16th. Allergan’s dividend payout ratio is currently 17.61%.
In other news, Director Christopher J. Coughlin bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was bought at an average price of $190.64 per share, with a total value of $1,906,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph H. Boccuzi bought 900 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average cost of $190.59 per share, with a total value of $171,531.00. The disclosure for this purchase can be found here. Corporate insiders own 0.37% of the company’s stock.
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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