Tower Research Capital LLC TRC Raises Holdings in Allergan plc (NYSE:AGN)

Tower Research Capital LLC TRC boosted its stake in shares of Allergan plc (NYSE:AGN) by 146.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 18,447 shares of the company’s stock after buying an additional 10,960 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Allergan were worth $3,089,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Haverford Trust Co. boosted its holdings in Allergan by 14.6% during the 2nd quarter. Haverford Trust Co. now owns 4,438 shares of the company’s stock valued at $743,000 after acquiring an additional 565 shares during the period. Alps Advisors Inc. boosted its holdings in Allergan by 4.4% during the 2nd quarter. Alps Advisors Inc. now owns 6,938 shares of the company’s stock valued at $1,162,000 after acquiring an additional 292 shares during the period. Wesbanco Bank Inc. boosted its holdings in Allergan by 6.8% during the 1st quarter. Wesbanco Bank Inc. now owns 4,950 shares of the company’s stock valued at $725,000 after acquiring an additional 316 shares during the period. Fulton Bank N.A. boosted its holdings in Allergan by 19.9% during the 2nd quarter. Fulton Bank N.A. now owns 14,220 shares of the company’s stock valued at $2,381,000 after acquiring an additional 2,360 shares during the period. Finally, Private Management Group Inc. boosted its holdings in Allergan by 1.6% during the 1st quarter. Private Management Group Inc. now owns 262,314 shares of the company’s stock valued at $38,405,000 after acquiring an additional 4,158 shares during the period. Institutional investors own 80.86% of the company’s stock.

A number of research analysts have commented on the company. Raymond James lowered Allergan from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Barclays upped their price target on Allergan from $176.00 to $188.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Svb Leerink reaffirmed a “market perform” rating and set a $188.00 price target (down previously from $217.00) on shares of Allergan in a research report on Thursday, July 18th. Cantor Fitzgerald upped their price target on Allergan from $125.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Goldman Sachs Group assumed coverage on Allergan in a research report on Tuesday, May 28th. They set a “neutral” rating and a $154.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $178.75.

Shares of NYSE:AGN traded down $0.20 during trading on Friday, hitting $166.15. The stock had a trading volume of 190,426 shares, compared to its average volume of 2,980,572. Allergan plc has a 12 month low of $114.27 and a 12 month high of $197.00. The company has a market capitalization of $53.80 billion, a PE ratio of 9.95, a PEG ratio of 1.69 and a beta of 1.61. The firm’s fifty day moving average is $160.46 and its 200 day moving average is $148.42. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 0.34.

Allergan (NYSE:AGN) last announced its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the company earned $4.42 EPS. The business’s revenue was down .8% compared to the same quarter last year. Equities research analysts expect that Allergan plc will post 16.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 13th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Monday, August 12th. Allergan’s dividend payout ratio is currently 17.74%.

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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