Belpointe Asset Management LLC bought a new stake in shares of Allergan PLC. (NYSE:AGN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,952 shares of the company’s stock, valued at approximately $400,000.
A number of other hedge funds have also added to or reduced their stakes in AGN. Portland Global Advisors LLC raised its holdings in shares of Allergan by 1.8% during the second quarter. Portland Global Advisors LLC now owns 7,721 shares of the company’s stock valued at $1,877,000 after acquiring an additional 140 shares during the period. Laurel Grove Capital LLC raised its holdings in shares of Allergan by 6.2% during the second quarter. Laurel Grove Capital LLC now owns 12,178 shares of the company’s stock valued at $2,960,000 after acquiring an additional 713 shares during the period. Confluence Investment Management LLC raised its holdings in shares of Allergan by 10.9% during the second quarter. Confluence Investment Management LLC now owns 295,395 shares of the company’s stock valued at $71,807,000 after acquiring an additional 29,058 shares during the period. Pennsylvania Trust Co raised its holdings in shares of Allergan by 332.0% during the second quarter. Pennsylvania Trust Co now owns 30,105 shares of the company’s stock valued at $7,318,000 after acquiring an additional 23,137 shares during the period. Finally, Bank of The West raised its holdings in shares of Allergan by 4.1% during the second quarter. Bank of The West now owns 20,746 shares of the company’s stock valued at $5,044,000 after acquiring an additional 809 shares during the period. 81.34% of the stock is owned by institutional investors and hedge funds.
Allergan PLC. (NYSE AGN) opened at $171.68 on Friday. The firm has a market cap of $56,851.75, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. Allergan PLC. has a 12 month low of $160.07 and a 12 month high of $256.80.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.63%. Allergan’s dividend payout ratio is presently -12.44%.
Allergan announced that its board has approved a stock buyback program on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have recently issued reports on AGN. Cantor Fitzgerald set a $191.00 price target on shares of Allergan and gave the company a “hold” rating in a report on Tuesday. Morgan Stanley set a $200.00 price target on shares of Allergan and gave the company a “buy” rating in a report on Wednesday, December 6th. Wells Fargo & Company restated a “buy” rating on shares of Allergan in a report on Wednesday, December 6th. Mizuho restated a “buy” rating and set a $267.00 price target on shares of Allergan in a report on Monday, September 25th. Finally, Barclays restated an “equal weight” rating on shares of Allergan in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $235.25.
In other Allergan news, Chairman Brent L. Saunders bought 4,600 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was bought at an average cost of $164.74 per share, with a total value of $757,804.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Meury sold 11,807 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total transaction of $2,053,119.23. The disclosure for this sale can be found here. In the last quarter, insiders acquired 17,630 shares of company stock worth $2,890,057. Company insiders own 0.36% of the company’s stock.
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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