Icon Wealth Partners LLC Buys New Holdings in Allergan plc (AGN)
Icon Wealth Partners LLC bought a new stake in shares of Allergan plc (NYSE:AGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,104 shares of the company’s stock, valued at approximately $344,000.
A number of other hedge funds also recently bought and sold shares of the business. First Interstate Bank grew its holdings in Allergan by 58.2% during the 4th quarter. First Interstate Bank now owns 4,063 shares of the company’s stock valued at $665,000 after buying an additional 1,495 shares in the last quarter. Aevitas Wealth Management Inc. purchased a new position in Allergan during the 4th quarter valued at about $408,000. Amalgamated Bank grew its holdings in Allergan by 9.7% during the 4th quarter. Amalgamated Bank now owns 42,285 shares of the company’s stock valued at $6,917,000 after buying an additional 3,735 shares in the last quarter. Ascend Capital LLC purchased a new position in Allergan during the 4th quarter valued at about $4,805,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Allergan during the 4th quarter valued at about $3,272,000. 79.66% of the stock is owned by institutional investors and hedge funds.
Shares of Allergan plc (NYSE AGN) opened at $144.02 on Friday. The firm has a market capitalization of $51,620.00, a P/E ratio of -12.01, a P/E/G ratio of 1.05 and a beta of 1.29. Allergan plc has a 12-month low of $143.10 and a 12-month high of $256.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 1.06.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, February 28th will be given a $0.72 dividend. This is an increase from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 2.00%. Allergan’s payout ratio is presently -24.02%.
In related news, Chairman Brent L. Saunders acquired 4,600 shares of the stock in a transaction on Wednesday, December 6th. The stock was purchased at an average price of $164.74 per share, for a total transaction of $757,804.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew M. Walsh acquired 2,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $160.94 per share, with a total value of $321,880.00. The disclosure for this purchase can be found here. Insiders acquired 19,630 shares of company stock valued at $3,211,937 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
A number of brokerages have recently issued reports on AGN. Wells Fargo & Co set a $245.00 price target on Allergan and gave the company a “buy” rating in a research report on Friday, January 5th. Credit Suisse Group set a $214.00 price target on Allergan and gave the company a “buy” rating in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Royal Bank of Canada set a $218.00 price target on Allergan and gave the company a “buy” rating in a research report on Thursday, January 4th. Citigroup dropped their price target on Allergan to $215.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Finally, Vetr downgraded Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price target for the company. in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $225.03.
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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