Affinity Investment Advisors LLC Grows Position in Allergan plc (AGN)
Affinity Investment Advisors LLC increased its holdings in Allergan plc (NYSE:AGN) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,454 shares of the company’s stock after purchasing an additional 11,012 shares during the quarter. Allergan accounts for 1.9% of Affinity Investment Advisors LLC’s holdings, making the stock its 14th biggest position. Affinity Investment Advisors LLC’s holdings in Allergan were worth $14,182,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AGN. Staley Capital Advisers Inc. purchased a new position in shares of Allergan in the third quarter worth approximately $267,000. American International Group Inc. increased its position in shares of Allergan by 1.0% in the third quarter. American International Group Inc. now owns 109,757 shares of the company’s stock worth $20,907,000 after acquiring an additional 1,119 shares in the last quarter. Aviance Capital Partners LLC increased its position in shares of Allergan by 56.6% in the third quarter. Aviance Capital Partners LLC now owns 187,989 shares of the company’s stock worth $35,808,000 after acquiring an additional 67,967 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Allergan in the third quarter worth approximately $209,000. Finally, Bank of New York Mellon Corp increased its position in shares of Allergan by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 3,637,854 shares of the company’s stock worth $692,939,000 after acquiring an additional 92,297 shares in the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.
AGN stock opened at $154.33 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $52.63 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. Allergan plc has a 12 month low of $142.81 and a 12 month high of $197.00.
The firm 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. This represents a $2.88 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio is 17.61%.
Several research analysts have recently weighed in on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research report on Saturday, September 15th. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Mizuho reissued a “hold” rating and issued a $194.00 target price on shares of Allergan in a research report on Monday, July 30th. Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, Morgan Stanley set a $202.00 price objective on shares of Allergan and gave the company an “overweight” rating in a research report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Allergan currently has a consensus rating of “Buy” and a consensus target price of $209.18.
In other Allergan news, CFO Matthew M. Walsh bought 1,000 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average cost of $157.00 per share, with a total value of $157,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph H. Boccuzi bought 900 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was acquired at an average cost of $190.59 per share, with a total value of $171,531.00. 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 three months. Insiders own 0.37% of the company’s stock.
Allergan Company Profile
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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