HPM Partners LLC Increases Holdings in Allergan plc (AGN)

HPM Partners LLC raised its stake in Allergan plc (NYSE:AGN) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,659 shares of the company’s stock after acquiring an additional 1,675 shares during the period. HPM Partners LLC’s holdings in Allergan were worth $4,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AGN. Thompson Siegel & Walmsley LLC increased its holdings in Allergan by 3,032.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 877,740 shares of the company’s stock valued at $146,337,000 after acquiring an additional 849,719 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Allergan by 27,066.5% in the 2nd quarter. Renaissance Technologies LLC now owns 787,828 shares of the company’s stock worth $131,347,000 after buying an additional 784,928 shares in the last quarter. Sound Shore Management Inc. CT purchased a new position in shares of Allergan in the 3rd quarter worth $140,026,000. Partner Fund Management L.P. purchased a new position in shares of Allergan in the 3rd quarter worth $131,421,000. Finally, Mainstay Capital Management LLC ADV grew its stake in shares of Allergan by 13,097.2% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 675,039 shares of the company’s stock worth $4,288,000 after buying an additional 669,924 shares in the last quarter. Institutional investors own 78.24% of the company’s stock.

In other news, CFO Matthew M. Walsh purchased 1,000 shares of the company’s 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

AGN stock opened at $148.23 on Friday. Allergan plc has a 12 month low of $142.81 and a 12 month high of $197.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.78. The stock has a market cap of $50.00 billion, a P/E ratio of 9.07, a PEG ratio of 1.15 and a beta of 1.29.

Allergan (NYSE:AGN) last released its quarterly 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. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company earned $4.15 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts expect that Allergan plc will post 16.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Tuesday, November 13th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.94%. Allergan’s dividend payout ratio is presently 17.61%.

AGN has been the subject of a number of recent research 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 issued a “buy” rating for the company. Raymond James reissued a “buy” rating and issued a $232.00 price objective (up 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 objective on shares of Allergan to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $211.43.

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About Allergan

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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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