Flagship Harbor Advisors LLC Grows Position in Allergan plc (AGN)
Flagship Harbor Advisors LLC lifted its holdings in Allergan plc (NYSE:AGN) by 122.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,729 shares of the company’s stock after acquiring an additional 950 shares during the period. Flagship Harbor Advisors LLC’s holdings in Allergan were worth $333,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Edgewood Management LLC lifted its position in Allergan by 2.6% during the second quarter. Edgewood Management LLC now owns 5,728,391 shares of the company’s stock worth $955,037,000 after purchasing an additional 144,282 shares during the period. Janus Henderson Group PLC lifted its position in Allergan by 16.3% during the second quarter. Janus Henderson Group PLC now owns 4,778,699 shares of the company’s stock worth $796,712,000 after purchasing an additional 668,343 shares during the period. Northern Trust Corp lifted its position in Allergan by 1.7% during the second quarter. Northern Trust Corp now owns 4,163,556 shares of the company’s stock worth $694,149,000 after purchasing an additional 69,651 shares during the period. Bank of New York Mellon Corp lifted its position in Allergan by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock worth $591,116,000 after purchasing an additional 99,490 shares during the period. Finally, Parnassus Investments CA lifted its position in Allergan by 3.1% during the second quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock worth $307,566,000 after purchasing an additional 55,029 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.
Several equities research analysts recently weighed in on AGN shares. Wells Fargo & Co set a $240.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research raised shares of Allergan from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Tuesday, July 17th. Credit Suisse Group set a $213.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research report on Friday, July 13th. Mizuho raised shares of Allergan from a “neutral” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Deutsche Bank set a $210.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $210.18.
AGN stock opened at $165.52 on Friday. The stock has a market capitalization of $57.21 billion, a PE ratio of 10.12, a P/E/G ratio of 1.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.78. Allergan plc has a 12 month low of $142.81 and a 12 month high of $197.00.
Allergan (NYSE:AGN) last posted its earnings results on Tuesday, October 30th. The company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.04 by $0.21. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.15 earnings per share. As a group, analysts anticipate that Allergan plc will post 16.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.74%. Allergan’s dividend payout ratio (DPR) is currently 17.61%.
TRADEMARK VIOLATION WARNING: “Flagship Harbor Advisors LLC Grows Position in Allergan plc (AGN)” was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2018/11/10/flagship-harbor-advisors-llc-grows-position-in-allergan-plc-agn.html.
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.
Read More: What Factors Can Affect Return on Equity?
Want to see what other hedge funds are holding AGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allergan plc (NYSE:AGN).
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.