Icon Advisers Inc. Co. acquired a new stake in shares of Allergan plc (NYSE:AGN) in the third quarter, HoldingsChannel.com reports. The fund acquired 4,200 shares of the company’s stock, valued at approximately $800,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in shares of Allergan by 19.2% in the second quarter. State of Alaska Department of Revenue now owns 49,346 shares of the company’s stock worth $8,226,000 after buying an additional 7,960 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Allergan in the second quarter worth about $1,149,000. Fox Run Management L.L.C. acquired a new stake in shares of Allergan in the second quarter worth about $797,000. Assenagon Asset Management S.A. acquired a new stake in shares of Allergan in the second quarter worth about $7,062,000. Finally, Retirement Systems of Alabama lifted its position in shares of Allergan by 31.7% in the second quarter. Retirement Systems of Alabama now owns 377,978 shares of the company’s stock worth $63,016,000 after buying an additional 91,080 shares during the last quarter. 77.55% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Joseph H. Boccuzi purchased 900 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were purchased at an average cost of $190.59 per share, for a total transaction of $171,531.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were purchased at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
Allergan (NYSE:AGN) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the firm earned $4.15 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. As a group, analysts expect that Allergan plc will post 16.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, November 9th. This represents a $2.88 annualized dividend and a dividend yield of 1.74%. Allergan’s dividend payout ratio is presently 17.61%.
AGN has been the subject of a number of analyst reports. Zacks Investment Research raised Allergan from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research report on Tuesday, July 17th. Raymond James reaffirmed a “buy” rating and issued a $232.00 price target (up previously from $211.00) on shares of Allergan in a research report on Monday, September 17th. ValuEngine cut Allergan from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Deutsche Bank set a $210.00 price target on Allergan and gave the stock a “buy” rating in a research report on Wednesday, September 12th. Finally, Cowen set a $255.00 price target on Allergan and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $210.18.
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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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