LPL Financial LLC Grows Position in Allergan plc (AGN)
LPL Financial LLC lifted its position in Allergan plc (NYSE:AGN) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 65,034 shares of the company’s stock after acquiring an additional 1,492 shares during the period. LPL Financial LLC’s holdings in Allergan were worth $12,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in shares of Allergan by 1,113.1% in the 2nd quarter. First Trust Advisors LP now owns 78,122 shares of the company’s stock valued at $13,024,000 after acquiring an additional 71,682 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Allergan in the 2nd quarter valued at about $884,000. Greenleaf Trust increased its stake in shares of Allergan by 30.8% in the 2nd quarter. Greenleaf Trust now owns 2,621 shares of the company’s stock valued at $437,000 after acquiring an additional 617 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Allergan by 488.2% in the 2nd quarter. SG Americas Securities LLC now owns 45,293 shares of the company’s stock valued at $7,551,000 after acquiring an additional 37,593 shares during the last quarter. Finally, Convergence Investment Partners LLC increased its stake in shares of Allergan by 1,057.2% in the 2nd quarter. Convergence Investment Partners LLC now owns 6,515 shares of the company’s stock valued at $1,086,000 after acquiring an additional 5,952 shares during the last quarter. 78.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Allergan news, CFO Matthew M. Walsh bought 1,000 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was acquired at an average cost of $157.00 per share, with a total value of $157,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.
Allergan (NYSE:AGN) last posted its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the business earned $4.15 EPS. Allergan’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Allergan plc will post 16.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Tuesday, November 13th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a yield of 1.94%. Allergan’s payout ratio is 17.61%.
A number of brokerages have recently commented on AGN. Zacks Investment Research cut Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. ValuEngine raised Allergan from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. TheStreet raised Allergan from a “d+” rating to a “c” rating in a research note on Monday, August 20th. Cowen set a $255.00 price target on Allergan and gave the company a “buy” rating in a research note on Wednesday, October 17th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $180.00 price target on shares of Allergan in a research note on Friday, September 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $211.43.
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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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