Confluence Investment Management LLC increased its position in shares of Allergan plc (NYSE:AGN) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 266,337 shares of the company’s stock after buying an additional 18,219 shares during the period. Allergan plc makes up 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 29th largest position. Confluence Investment Management LLC owned 0.08% of Allergan plc worth $63,633,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Fulton Bank N.A. increased its stake in shares of Allergan plc by 12.8% in the first quarter. Fulton Bank N.A. now owns 5,602 shares of the company’s stock valued at $1,338,000 after buying an additional 637 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Allergan plc by 21.3% in the first quarter. Manning & Napier Advisors LLC now owns 11,980 shares of the company’s stock valued at $2,862,000 after buying an additional 2,100 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Allergan plc by 34.9% in the first quarter. CENTRAL TRUST Co now owns 26,615 shares of the company’s stock valued at $6,359,000 after buying an additional 6,884 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new stake in shares of Allergan plc during the first quarter valued at $215,000. Finally, First American Trust FSB acquired a new stake in shares of Allergan plc during the first quarter valued at $4,081,000. Institutional investors and hedge funds own 86.40% of the company’s stock.
Allergan plc (NYSE:AGN) traded down 0.71% during midday trading on Friday, hitting $236.25. The stock had a trading volume of 592,839 shares. Allergan plc has a 12 month low of $184.50 and a 12 month high of $261.27. The stock has a 50 day moving average of $238.85 and a 200 day moving average of $221.59. The stock has a market cap of $79.20 billion, a price-to-earnings ratio of 6.19 and a beta of 1.07.
Allergan plc (NYSE:AGN) last released its earnings results on Wednesday, February 8th. The company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.14. Allergan plc had a net margin of 100.04% and a return on equity of 7.21%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm earned $3.41 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that Allergan plc will post $16.03 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on AGN shares. Mizuho reiterated a “buy” rating and issued a $273.00 price target on shares of Allergan plc in a report on Friday, January 6th. Leerink Swann set a $271.00 price target on Allergan plc and gave the stock a “buy” rating in a report on Thursday, February 2nd. Sanford C. Bernstein set a $275.00 price target on Allergan plc and gave the stock a “buy” rating in a report on Sunday, December 25th. Bank of America Corp reissued a “buy” rating and issued a $280.00 price objective on shares of Allergan plc in a research note on Friday, December 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $247.00 price objective (up previously from $245.00) on shares of Allergan plc in a research note on Friday, December 23rd. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $266.16.
In related news, Director Paul Bisaro sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $246.68, for a total value of $17,267,600.00. Following the sale, the director now directly owns 274,226 shares in the company, valued at approximately $67,646,069.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.
About Allergan plc
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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