Allergan PLC (AGN) Position Increased by Abner Herrman & Brock LLC
Abner Herrman & Brock LLC increased its position in shares of Allergan PLC (NYSE:AGN) by 11.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,574 shares of the company’s stock after buying an additional 4,110 shares during the period. Allergan PLC comprises about 2.0% of Abner Herrman & Brock LLC’s portfolio, making the stock its 18th largest position. Abner Herrman & Brock LLC’s holdings in Allergan PLC were worth $8,884,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Guyasuta Investment Advisors Inc. raised its position in shares of Allergan PLC by 577.3% in the third quarter. Guyasuta Investment Advisors Inc. now owns 45,328 shares of the company’s stock valued at $10,439,000 after buying an additional 38,636 shares during the last quarter. Smithfield Trust Co. raised its position in shares of Allergan PLC by 68.3% in the third quarter. Smithfield Trust Co. now owns 4,683 shares of the company’s stock valued at $1,079,000 after buying an additional 1,900 shares during the last quarter. Northern Capital Management LLC acquired a new position in shares of Allergan PLC during the third quarter valued at approximately $657,000. KBC Group NV raised its position in shares of Allergan PLC by 45.7% in the third quarter. KBC Group NV now owns 199,213 shares of the company’s stock valued at $45,881,000 after buying an additional 62,529 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Allergan PLC by 8.1% in the third quarter. Bank of New York Mellon Corp now owns 4,390,394 shares of the company’s stock valued at $1,011,151,000 after buying an additional 329,024 shares during the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.
Allergan PLC (NYSE:AGN) traded down 1.16% during midday trading on Monday, hitting $189.99. The company had a trading volume of 5,247,861 shares. The stock has a market capitalization of $71.26 billion, a PE ratio of 5.33 and a beta of 1.08. Allergan PLC has a 52 week low of $184.50 and a 52 week high of $322.68. The stock has a 50 day moving average price of $212.72 and a 200-day moving average price of $233.35.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $3.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.65 by $0.33. Allergan PLC had a return on equity of 7.26% and a net margin of 93.74%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the business posted $3.48 earnings per share. Allergan PLC’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Allergan PLC will post $13.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.70 per share. This is a positive change from Allergan PLC’s previous quarterly dividend of $0.05. This represents a $2.80 dividend on an annualized basis and a yield of 1.46%.
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Several brokerages have recently commented on AGN. William Blair reissued a “market perform” rating on shares of Allergan PLC in a report on Monday, November 21st. Mizuho dropped their target price on Allergan PLC from $293.00 to $273.00 and set a “buy” rating for the company in a research report on Thursday, November 17th. Vetr downgraded Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $235.38 target price for the company. in a research report on Wednesday, November 9th. RBC Capital Markets restated an “outperform” rating and issued a $279.00 target price (down previously from $300.00) on shares of Allergan PLC in a research report on Thursday, November 3rd. Finally, Morgan Stanley dropped their target price on Allergan PLC from $300.00 to $274.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $289.11.
In other news, CFO Maria Teresa Hilado bought 1,422 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was acquired at an average cost of $210.64 per share, with a total value of $299,530.08. Following the transaction, the chief financial officer now directly owns 12,659 shares in the company, valued at approximately $2,666,491.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brent L. Saunders bought 5,250 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were purchased at an average cost of $189.13 per share, with a total value of $992,932.50. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.
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.
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