Smith Salley & Associates Acquires 1,990 Shares of Allergan plc (AGN)

Smith Salley & Associates boosted its holdings in Allergan plc (NYSE:AGN) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,226 shares of the company’s stock after buying an additional 1,990 shares during the period. Smith Salley & Associates’ holdings in Allergan were worth $7,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AGN. Flagship Harbor Advisors LLC purchased a new position in Allergan in the 2nd quarter valued at approximately $129,000. Gradient Investments LLC grew its stake in Allergan by 747.5% in the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock valued at $129,000 after buying an additional 598 shares in the last quarter. Kaizen Advisory LLC grew its stake in Allergan by 156.2% in 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Allergan by 3,193.3% in 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 in the last quarter. Finally, Aries Wealth Management purchased a new position in Allergan in the 2nd quarter valued at approximately $202,000. Institutional investors and hedge funds own 77.55% of the company’s stock.

In related news, Director Christopher J. Coughlin acquired 10,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was bought at an average cost of $190.64 per share, with a total value of $1,906,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph H. Boccuzi acquired 900 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were bought 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. Insiders own 0.36% of the company’s stock.

NYSE AGN opened at $165.52 on Friday. Allergan plc has a 52-week low of $142.81 and a 52-week high of $197.00. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market cap of $57.21 billion, a PE ratio of 10.12, a P/E/G ratio of 1.34 and a beta of 1.31.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.21. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the firm posted $4.15 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, equities analysts expect that Allergan plc will post 16.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio is currently 17.61%.

A number of research firms recently weighed in on AGN. Mizuho reiterated a “hold” rating and issued a $194.00 price objective on shares of Allergan in a research note on Monday, July 30th. Cantor Fitzgerald reiterated a “hold” rating and issued a $180.00 price objective on shares of Allergan in a research note on Friday, September 14th. ValuEngine raised shares of Allergan from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Piper Jaffray Companies set a $164.00 price target on shares of Allergan and gave the company a “hold” rating in a report on Monday, September 17th. Finally, Cowen set a $255.00 price target on shares of Allergan and gave the company a “buy” rating in a report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company. Allergan currently has a consensus rating of “Buy” and an average price target of $210.18.

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Allergan 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.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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