Confluence Investment Management LLC Buys New Position in Allergan PLC (AGN)
Confluence Investment Management LLC bought a new position in shares of Allergan PLC (NYSE:AGN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 114,238 shares of the company’s stock, valued at approximately $26,310,000.
Other large investors have also modified their holdings of the company. Barnett & Company Inc. purchased a new stake in Allergan PLC during the first quarter valued at about $111,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Allergan PLC during the second quarter valued at about $125,000. Trust Co. of Vermont boosted its stake in Allergan PLC by 19.5% in the second quarter. Trust Co. of Vermont now owns 545 shares of the company’s stock valued at $126,000 after buying an additional 89 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in Allergan PLC by 68.7% in the third quarter. Carroll Financial Associates Inc. now owns 555 shares of the company’s stock valued at $127,000 after buying an additional 226 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in Allergan PLC by 35.2% in the second quarter. Integrated Investment Consultants LLC now owns 592 shares of the company’s stock valued at $137,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 86.89% of the company’s stock.
Allergan PLC (NYSE:AGN) traded up 2.10% during trading on Tuesday, reaching $193.98. 1,669,833 shares of the company were exchanged. The stock has a market capitalization of $72.76 billion, a PE ratio of 5.44 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 firm’s 50 day moving average is $211.32 and its 200 day moving average is $233.30.
Allergan PLC (NYSE:AGN) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $3.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.65 by $0.33. The company earned $3.62 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Allergan PLC had a return on equity of 7.26% and a net margin of 93.74%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.48 EPS. Analysts expect that Allergan PLC will post $13.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.46%. This is a boost from Allergan PLC’s previous quarterly dividend of $0.05.
Several equities research analysts recently issued reports on the stock. Deutsche Bank AG set a $278.00 price objective on shares of Allergan PLC and gave the stock a “buy” rating in a research report on Saturday, October 15th. Vetr cut shares of Allergan PLC from a “strong-buy” rating to a “buy” rating and set a $235.38 price objective for the company. in a research report on Wednesday, November 9th. RBC Capital Markets restated an “outperform” rating and set a $300.00 price objective (down from $307.00) on shares of Allergan PLC in a research report on Wednesday, August 10th. Mizuho lowered their target price on shares of Allergan PLC from $299.00 to $293.00 and set a “buy” rating for the company in a research note on Tuesday, November 1st. Finally, Royal Bank Of Canada lowered their target price on shares of Allergan PLC from $300.00 to $279.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $289.11.
In related news, CEO Brent L. Saunders purchased 5,250 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was purchased at an average price of $189.13 per share, for a total transaction of $992,932.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Maria Teresa Hilado purchased 1,422 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was bought at an average price of $210.64 per share, with a total value of $299,530.08. Following the acquisition, the chief financial officer now owns 12,659 shares in the company, valued at $2,666,491.76. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.
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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