Acorn Advisory Capital L.P. acquired a new stake in Allergan plc (NYSE:AGN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,200 shares of the company’s stock, valued at approximately $610,000. Allergan comprises about 0.7% of Acorn Advisory Capital L.P.’s investment portfolio, making the stock its 20th biggest position.
Several other institutional investors also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new position in Allergan during the 2nd quarter worth approximately $129,000. Gradient Investments LLC grew its stake in shares of Allergan by 747.5% during the 3rd quarter. Gradient Investments LLC now owns 678 shares of the company’s stock worth $129,000 after purchasing an additional 598 shares during the period. Kaizen Advisory LLC grew its stake in shares of Allergan by 156.2% during the 2nd quarter. Kaizen Advisory LLC now owns 830 shares of the company’s stock worth $138,000 after purchasing an additional 506 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Allergan by 3,193.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 988 shares of the company’s stock worth $165,000 after purchasing an additional 958 shares during the period. Finally, Aries Wealth Management acquired a new stake in shares of Allergan during the 2nd quarter worth approximately $202,000. 78.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Allergan stock traded down $4.09 on Wednesday, reaching $154.00. 4,053,053 shares of the company were exchanged, compared to its average volume of 2,007,014. Allergan plc has a 1-year low of $142.81 and a 1-year high of $197.00. The company has a market cap of $52.82 billion, a PE ratio of 9.42, a P/E/G ratio of 1.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.78 and a current ratio of 0.92.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio is presently 17.61%.
AGN has been the topic of a number of analyst reports. Cowen set a $255.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Guggenheim initiated coverage on shares of Allergan in a research note on Monday, October 8th. They set a “buy” rating on the stock. Raymond James reaffirmed a “buy” rating and set a $232.00 price objective (up previously from $211.00) on shares of Allergan in a research note on Monday, September 17th. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research note on Saturday, September 15th. Finally, SunTrust Banks lifted their price target on shares of Allergan to $218.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the stock. Allergan presently has a consensus rating of “Buy” and an average target price of $209.18.
In other Allergan news, CFO Matthew M. Walsh purchased 1,000 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average cost of $157.00 per share, with a total value of $157,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher J. Coughlin purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average cost of $190.64 per share, with a total value of $1,906,400.00. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.
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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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