Allergan plc (NYSE:AGN) Stake Raised by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC lifted its position in shares of Allergan plc (NYSE:AGN) by 7.0% during the 1st quarter, HoldingsChannel reports. The fund owned 11,874 shares of the company’s stock after purchasing an additional 775 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Allergan were worth $1,738,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Liberty Wealth Management LLC lifted its stake in Allergan by 108.8% in the 1st quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Legacy Bridge LLC purchased a new position in Allergan in the 1st quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Allergan by 2,162.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Investors Research Corp purchased a new position in Allergan in the 1st quarter valued at about $29,000. Finally, JNBA Financial Advisors purchased a new position in Allergan in the 4th quarter valued at about $30,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Allergan stock traded down $1.10 during trading on Thursday, hitting $121.17. The company had a trading volume of 815,043 shares, compared to its average volume of 2,665,101. Allergan plc has a 1-year low of $120.68 and a 1-year high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71. The company has a market capitalization of $40.27 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.39.

Allergan (NYSE:AGN) last posted its earnings results on Tuesday, May 7th. The company reported $3.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.55 by $0.24. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm earned $3.74 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Allergan plc will post 16.68 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 14th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.96 annualized dividend and a yield of 2.44%. Allergan’s dividend payout ratio (DPR) is presently 17.74%.

AGN has been the topic of a number of research reports. Bank of America set a $197.00 price target on shares of Allergan and gave the company a “buy” rating in a research note on Thursday, March 7th. Jefferies Financial Group assumed coverage on shares of Allergan in a research note on Monday, April 15th. They issued a “hold” rating and a $144.95 target price on the stock. Royal Bank of Canada set a $165.00 target price on shares of Allergan and gave the stock a “hold” rating in a research note on Monday, March 25th. SunTrust Banks assumed coverage on shares of Allergan in a research note on Tuesday, March 19th. They issued a “buy” rating and a $178.00 target price on the stock. Finally, Leerink Swann set a $217.00 price target on shares of Allergan and gave the stock a “buy” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $175.30.

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Allergan Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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