Financial Gravity Wealth Inc. raised its position in Allergan plc (NYSE:AGN) by 29.9% during the third quarter, HoldingsChannel reports. The firm owned 1,637 shares of the company’s stock after purchasing an additional 377 shares during the period. Financial Gravity Wealth Inc.’s holdings in Allergan were worth $285,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in AGN. Stonebridge Capital Management Inc. lifted its holdings in Allergan by 14.8% in the 2nd quarter. Stonebridge Capital Management Inc. now owns 6,596 shares of the company’s stock valued at $1,136,000 after purchasing an additional 850 shares in the last quarter. XR Securities LLC purchased a new position in Allergan in the 2nd quarter valued at $2,453,000. Kempner Capital Management Inc. purchased a new position in Allergan in the 2nd quarter valued at $1,432,000. DAVENPORT & Co LLC lifted its holdings in Allergan by 75.1% in the 2nd quarter. DAVENPORT & Co LLC now owns 2,282 shares of the company’s stock valued at $380,000 after purchasing an additional 979 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in Allergan by 5.8% in the 2nd quarter. Fulton Bank N.A. now owns 8,734 shares of the company’s stock valued at $1,457,000 after purchasing an additional 479 shares in the last quarter. Institutional investors own 77.58% of the company’s stock.
AGN has been the topic of a number of research reports. Zacks Investment Research upgraded Allergan from a “hold” rating to a “buy” rating and set a $197.00 price objective on the stock in a report on Wednesday, July 11th. Raymond James reiterated a “buy” rating and set a $232.00 price target (up previously from $211.00) on shares of Allergan in a report on Monday, September 17th. ValuEngine lowered Allergan from a “hold” rating to a “sell” rating in a report on Wednesday. Deutsche Bank set a $210.00 price target on Allergan and gave the stock a “buy” rating in a report on Wednesday, September 12th. Finally, Cowen set a $255.00 price target on Allergan and gave the stock a “buy” rating in a report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $210.18.
In related news, Director Christopher J. Coughlin acquired 10,000 shares of Allergan stock in a transaction that occurred on Thursday, September 6th. The shares were purchased at an average cost of $190.64 per share, for a total transaction of $1,906,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph H. Boccuzi acquired 900 shares of Allergan stock in a transaction that occurred on Thursday, August 30th. The stock was bought at an average price of $190.59 per share, for a total transaction of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.
Shares of AGN opened at $158.71 on Thursday. The stock has a market capitalization of $54.54 billion, a P/E ratio of 9.71, a P/E/G ratio of 1.25 and a beta of 1.19. Allergan plc has a 12-month low of $142.81 and a 12-month high of $197.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 1.21.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.21. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. Allergan’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.15 EPS. Analysts expect that Allergan plc will post 16.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 annualized dividend and a yield of 1.81%. Allergan’s dividend payout ratio (DPR) is currently 17.61%.
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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