Aviance Capital Partners LLC Acquires 67,967 Shares of Allergan plc (AGN)
Aviance Capital Partners LLC lifted its holdings in shares of Allergan plc (NYSE:AGN) by 56.6% during the third quarter, Holdings Channel reports. The fund owned 187,989 shares of the company’s stock after purchasing an additional 67,967 shares during the quarter. Allergan accounts for 8.6% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Aviance Capital Partners LLC’s holdings in Allergan were worth $35,808,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in shares of Allergan during the second quarter valued at approximately $129,000. Gradient Investments LLC grew its holdings in shares of Allergan by 747.5% during the third quarter. Gradient Investments LLC now owns 678 shares of the company’s stock valued at $129,000 after purchasing an additional 598 shares during the last quarter. Kaizen Advisory LLC grew its holdings in shares of Allergan by 156.2% during the second quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock valued at $138,000 after purchasing an additional 506 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Allergan by 3,193.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock valued at $165,000 after purchasing an additional 958 shares during the last quarter. Finally, Aries Wealth Management bought a new position in shares of Allergan during the second quarter valued at approximately $202,000. 78.48% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the company. ValuEngine lowered Allergan from a “sell” rating to a “strong sell” rating in a report on Friday. Leerink Swann assumed coverage on Allergan in a report on Monday, November 12th. They set an “outperform” rating and a $220.00 target price for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a report on Wednesday, October 31st. Cantor Fitzgerald set a $180.00 target price on Allergan and gave the company a “hold” rating in a report on Monday, August 6th. Finally, Mizuho raised Allergan from a “neutral” rating to a “buy” rating in a report on Friday, August 3rd. 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. Allergan presently has an average rating of “Buy” and a consensus target price of $209.18.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.04 by $0.21. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.89 billion. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.15 earnings per share. On average, analysts predict that Allergan plc will post 16.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 13th will be given a $0.72 dividend. The ex-dividend date is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a yield of 1.85%. Allergan’s dividend payout ratio (DPR) is 17.61%.
In other news, CFO Matthew M. Walsh bought 1,000 shares of the business’s stock in a transaction on Friday, November 16th. The stock was purchased at an average cost of $157.00 per share, for a total transaction of $157,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Coughlin bought 10,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was purchased at an average price of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. Insiders acquired 11,900 shares of company stock valued at $2,234,931 over the last 90 days. 0.37% of the stock is currently owned by insiders.
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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