Huntington National Bank acquired a new position in Allergan PLC (NYSE:AGN) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 28,126 shares of the company’s stock, valued at approximately $6,500,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Shufro Rose & Co. LLC bought a new position in Allergan PLC during the first quarter worth approximately $200,000. Stillwater Investment Management L.P. bought a new position in Allergan PLC during the first quarter worth approximately $13,428,000. M&T Bank Corp boosted its position in Allergan PLC by 10.0% in the first quarter. M&T Bank Corp now owns 69,398 shares of the company’s stock worth $18,600,000 after buying an additional 6,297 shares during the period. Ropes Wealth Advisors LLC boosted its position in Allergan PLC by 13.2% in the first quarter. Ropes Wealth Advisors LLC now owns 497 shares of the company’s stock worth $133,000 after buying an additional 58 shares during the period. Finally, King Wealth Management Group LLC boosted its position in Allergan PLC by 15.7% in the first quarter. King Wealth Management Group LLC now owns 8,910 shares of the company’s stock worth $2,388,000 after buying an additional 1,212 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.
Allergan PLC (NYSE:AGN) traded up 0.79% during trading on Thursday, hitting $232.36. The company’s stock had a trading volume of 4,719,697 shares. The firm has a market cap of $92.00 billion, a P/E ratio of 22.12 and a beta of 0.81. Allergan PLC has a 12 month low of $195.50 and a 12 month high of $322.68. The firm has a 50 day moving average of $238.58 and a 200 day moving average of $238.43.
Allergan PLC (NYSE:AGN) last issued its quarterly earnings results on Monday, August 8th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.01. The firm earned $3.68 billion during the quarter, compared to the consensus estimate of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $4.41 EPS. Equities research analysts predict that Allergan PLC will post $14.00 earnings per share for the current year.
A number of equities analysts have commented on AGN shares. Piper Jaffray Cos. reaffirmed a “hold” rating and set a $236.00 price objective on shares of Allergan PLC in a research report on Saturday, June 18th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Allergan PLC in a research report on Saturday, June 25th. Bank of America Corp. reissued a “buy” rating and issued a $294.00 target price (up previously from $287.00) on shares of Allergan PLC in a research report on Wednesday, June 29th. Morgan Stanley reissued an “overweight” rating on shares of Allergan PLC in a research report on Wednesday, June 29th. Finally, Leerink Swann reissued a “buy” rating on shares of Allergan PLC in a research report on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price 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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