Pinnacle Financial Partners Inc. increased its position in shares of Allergan plc (NYSE:AGN) by 101.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,214 shares of the company’s stock after buying an additional 3,627 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Allergan were worth $1,180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cable Hill Partners LLC lifted its holdings in Allergan by 255.2% during the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after purchasing an additional 370 shares in the last quarter. Rockefeller Financial Services Inc. lifted its holdings in Allergan by 283.7% during the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after purchasing an additional 400 shares in the last quarter. BB&T Investment Services Inc. lifted its holdings in Allergan by 1,308.2% during the third quarter. BB&T Investment Services Inc. now owns 690 shares of the company’s stock valued at $139,000 after purchasing an additional 641 shares in the last quarter. Phocas Financial Corp. purchased a new position in Allergan during the second quarter valued at $150,000. Finally, Acropolis Investment Management LLC purchased a new position in Allergan during the fourth quarter valued at $153,000. 79.76% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider William Meury sold 11,807 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $173.89, for a total transaction of $2,053,119.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average price of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 17,630 shares of company stock valued at $2,890,057. 0.36% of the stock is owned by company insiders.

Several research firms have issued reports on AGN. Credit Suisse Group increased their price objective on shares of Allergan from $214.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Bank of America increased their target price on shares of Allergan from $208.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Leerink Swann increased their target price on shares of Allergan from $237.00 to $242.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Cantor Fitzgerald reiterated a “hold” rating and issued a $191.00 target price on shares of Allergan in a research report on Tuesday, February 6th. Finally, ValuEngine cut shares of Allergan from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $227.23.

Shares of Allergan plc (AGN) opened at $158.72 on Wednesday. Allergan plc has a 12-month low of $156.11 and a 12-month high of $256.80. The stock has a market cap of $54,031.45, a PE ratio of -11.83, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.88 and a current ratio of 2.04.

Allergan (NYSE:AGN) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.74 by $0.12. Allergan had a negative net margin of 26.32% and a positive return on equity of 8.28%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the business earned $3.90 earnings per share. Allergan’s revenue was up 12.0% compared to the same quarter last year. analysts predict that Allergan plc will post 15.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be given a dividend of $0.72 per share. This is a boost from Allergan’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, February 27th. Allergan’s dividend payout ratio (DPR) is presently -20.86%.

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Allergan Profile

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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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