Alpine Group USVI LLC purchased a new position in Allergan plc (NYSE:AGN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 47,500 shares of the company’s stock, valued at approximately $7,994,000. Allergan makes up about 2.0% of Alpine Group USVI LLC’s investment portfolio, making the stock its 11th largest holding.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Prestige Wealth Management Group LLC purchased a new stake in shares of Allergan during the 2nd quarter worth approximately $25,000. Old North State Trust LLC raised its holdings in shares of Allergan by 172.4% during the 3rd quarter. Old North State Trust LLC now owns 158 shares of the company’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Motco purchased a new stake in shares of Allergan during the 2nd quarter worth approximately $29,000. HM Payson & Co. purchased a new stake in shares of Allergan during the 2nd quarter worth approximately $29,000. Finally, Evolution Wealth Advisors LLC purchased a new stake in shares of Allergan during the 2nd quarter worth approximately $30,000. 80.47% of the stock is currently owned by institutional investors.
AGN has been the topic of several recent research reports. Mizuho cut Allergan from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $171.00 to $188.00 in a report on Wednesday, June 26th. Cantor Fitzgerald upped their price objective on Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Leerink Swann cut Allergan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $217.00 to $188.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. set a $200.00 price objective on Allergan and gave the stock a “buy” rating in a report on Wednesday, June 19th. Finally, UBS Group upped their price objective on Allergan from $172.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Allergan has a consensus rating of “Hold” and a consensus price target of $179.15.
Allergan (NYSE:AGN) last released its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.34 by $0.04. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.42 EPS. Equities analysts anticipate that Allergan plc will post 16.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 13th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, August 12th. Allergan’s dividend payout ratio (DPR) is presently 17.74%.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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