Allergan plc (AGN) Stake Increased by Synovus Financial Corp

Synovus Financial Corp increased its position in shares of Allergan plc (NYSE:AGN) by 8.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,544 shares of the company’s stock after acquiring an additional 1,775 shares during the period. Synovus Financial Corp’s holdings in Allergan were worth $4,296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in Allergan by 33.1% during the third quarter. Sterling Capital Management LLC now owns 10,920 shares of the company’s stock valued at $2,080,000 after acquiring an additional 2,714 shares in the last quarter. Nippon Life Global Investors Americas Inc. grew its stake in Allergan by 9.7% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 48,390 shares of the company’s stock valued at $9,218,000 after acquiring an additional 4,290 shares in the last quarter. Wealthstreet Investment Advisors LLC grew its stake in Allergan by 7.5% during the third quarter. Wealthstreet Investment Advisors LLC now owns 7,206 shares of the company’s stock valued at $1,373,000 after acquiring an additional 500 shares in the last quarter. Moody National Bank Trust Division grew its stake in Allergan by 1,038.0% during the third quarter. Moody National Bank Trust Division now owns 23,897 shares of the company’s stock valued at $4,552,000 after acquiring an additional 21,797 shares in the last quarter. Finally, Financial Gravity Wealth Inc. grew its stake in Allergan by 29.9% during the third quarter. Financial Gravity Wealth Inc. now owns 1,637 shares of the company’s stock valued at $285,000 after acquiring an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 77.55% of the company’s stock.

In related news, Director Joseph H. Boccuzi acquired 900 shares of the firm’s 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher J. Coughlin acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

Several equities analysts recently weighed in on AGN shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a research note on Saturday, September 15th. Raymond James reaffirmed 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. Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $180.00 target price on shares of Allergan in a research note on Friday, September 14th. Finally, ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $210.18.

Shares of NYSE:AGN opened at $163.05 on Monday. Allergan plc has a 52 week low of $142.81 and a 52 week high of $197.00. The firm has a market capitalization of $54.99 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.78.

Allergan (NYSE:AGN) last released its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.04 by $0.21. The firm had revenue of $3.91 billion during 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%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $4.15 EPS. As a group, research analysts expect that Allergan plc will post 16.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be issued a $0.72 dividend. The ex-dividend date is Friday, November 9th. This represents a $2.88 annualized dividend and a dividend yield of 1.77%. Allergan’s dividend payout ratio (DPR) is presently 17.61%.

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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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