Smith Salley & Associates increased its stake in Allergan PLC (NYSE:AGN) by 33.9% during the second quarter, Holdings Channel reports. The firm owned 34,548 shares of the company’s stock after buying an additional 8,740 shares during the period. Allergan PLC accounts for 1.9% of Smith Salley & Associates’ investment portfolio, making the stock its 13th largest position. Smith Salley & Associates’ holdings in Allergan PLC were worth $7,983,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of AGN. 1ST Source Bank raised its stake in shares of Allergan PLC by 190.1% in the second quarter. 1ST Source Bank now owns 2,936 shares of the company’s stock valued at $678,000 after buying an additional 1,924 shares during the period. Smithfield Trust Co. raised its stake in shares of Allergan PLC by 1.0% in the second quarter. Smithfield Trust Co. now owns 2,783 shares of the company’s stock valued at $643,000 after buying an additional 27 shares during the period. FTB Advisors Inc. raised its stake in shares of Allergan PLC by 12.9% in the second quarter. FTB Advisors Inc. now owns 20,330 shares of the company’s stock valued at $4,698,000 after buying an additional 2,325 shares during the period. Signaturefd LLC raised its stake in shares of Allergan PLC by 1.6% in the second quarter. Signaturefd LLC now owns 3,462 shares of the company’s stock valued at $800,000 after buying an additional 53 shares during the period. Finally, Moody Lynn & Lieberson LLC bought a new stake in shares of Allergan PLC during the second quarter valued at approximately $272,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
Shares of Allergan PLC (NYSE:AGN) traded down 1.27% during mid-day trading on Friday, reaching $229.40. 1,576,783 shares of the company’s stock traded hands. Allergan PLC has a 12-month low of $195.50 and a 12-month high of $322.68. The company’s 50 day moving average is $238.26 and its 200 day moving average is $238.38. The company has a market cap of $90.83 billion, a P/E ratio of 21.84 and a beta of 0.81.
Allergan PLC (NYSE:AGN) last posted its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.34 by $0.01. The business earned $3.68 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Allergan PLC had a net margin of 28.06% and a return on equity of 7.67%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $4.41 earnings per share. On average, analysts predict that Allergan PLC will post $14.00 EPS for the current fiscal year.
Several research firms have recently issued reports on AGN. Mizuho lowered their target price on shares of Allergan PLC from $305.00 to $299.00 and set a “buy” rating for the company in a report on Tuesday. Argus reiterated a “buy” rating and set a $340.00 target price on shares of Allergan PLC in a report on Tuesday, October 4th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $300.00 target price on shares of Allergan PLC in a report on Tuesday, September 27th. Bank of America Corp. set a $294.00 target price on shares of Allergan PLC and gave the company a “buy” rating in a report on Tuesday, September 20th. Finally, Cantor Fitzgerald lowered shares of Allergan PLC from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $302.23.
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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