Moab Capital Partners LLC Takes $7.53 Million Position in Allergan plc (NYSE:AGN)

Moab Capital Partners LLC acquired a new stake in shares of Allergan plc (NYSE:AGN) during the 2nd quarter, Holdings Channel reports. The firm acquired 45,000 shares of the company’s stock, valued at approximately $7,534,000. Allergan accounts for 2.4% of Moab Capital Partners LLC’s holdings, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in AGN. Liberty Wealth Management LLC raised its holdings in shares of Allergan by 35.3% in the 2nd quarter. Liberty Wealth Management LLC now owns 257 shares of the company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Allergan by 1.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 4,274 shares of the company’s stock worth $626,000 after acquiring an additional 75 shares during the last quarter. Berman Capital Advisors LLC raised its holdings in shares of Allergan by 48.8% in the 1st quarter. Berman Capital Advisors LLC now owns 238 shares of the company’s stock worth $34,000 after acquiring an additional 78 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Allergan by 43.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 259 shares of the company’s stock worth $44,000 after acquiring an additional 78 shares during the last quarter. Finally, Bank of Hawaii raised its holdings in shares of Allergan by 1.4% in the 1st quarter. Bank of Hawaii now owns 6,463 shares of the company’s stock worth $946,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 80.45% of the company’s stock.

AGN has been the topic of a number of analyst reports. Guggenheim lowered shares of Allergan from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Barclays upped their price objective on shares of Allergan from $176.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Mizuho downgraded shares of Allergan from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $171.00 to $188.00 in a research report on Wednesday, June 26th. Cantor Fitzgerald upped their price objective on shares of Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein downgraded shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective for the company. in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. Allergan presently has a consensus rating of “Hold” and an average target price of $178.75.

AGN stock traded up $0.74 during trading on Friday, reaching $166.47. The stock had a trading volume of 3,597,844 shares, compared to its average volume of 2,942,227. Allergan plc has a one year low of $114.27 and a one year high of $197.00. The company’s 50 day moving average is $161.31 and its two-hundred day moving average is $149.56. The company has a market capitalization of $54.45 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 2.16 and a beta of 1.61. 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 released its earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.34 by $0.04. Allergan had a negative net margin of 54.25% and a positive return on equity of 8.73%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the firm earned $4.42 EPS. The company’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that Allergan plc will post 16.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was 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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