Smith Salley & Associates Acquires 1,990 Shares of Allergan plc (AGN)

Smith Salley & Associates raised its position in Allergan plc (NYSE:AGN) by 5.6% during the third quarter, HoldingsChannel.com reports. The fund owned 37,226 shares of the company’s stock after purchasing an additional 1,990 shares during the quarter. Smith Salley & Associates’ holdings in Allergan were worth $7,091,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AGN. State of Alaska Department of Revenue increased its position in shares of Allergan by 19.2% in the second quarter. State of Alaska Department of Revenue now owns 49,346 shares of the company’s stock valued at $8,226,000 after acquiring an additional 7,960 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Allergan in the second quarter valued at about $1,149,000. Fox Run Management L.L.C. purchased a new position in shares of Allergan in the second quarter valued at about $797,000. Assenagon Asset Management S.A. purchased a new position in shares of Allergan in the second quarter valued at about $7,062,000. Finally, Retirement Systems of Alabama increased its position in shares of Allergan by 31.7% in the second quarter. Retirement Systems of Alabama now owns 377,978 shares of the company’s stock valued at $63,016,000 after acquiring an additional 91,080 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.

AGN has been the topic of a number of analyst reports. Guggenheim initiated coverage on shares of Allergan in a research report on Monday, October 8th. They issued a “buy” rating on the stock. ValuEngine upgraded shares of Allergan from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Raymond James decreased their price objective on shares of Allergan from $232.00 to $198.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Credit Suisse Group set a $213.00 price objective on shares of Allergan and gave the company a “buy” rating in a research report on Friday, July 13th. Finally, Zacks Investment Research upgraded shares of Allergan from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $210.18.

Shares of NYSE AGN opened at $165.52 on Friday. Allergan plc has a 1 year low of $142.81 and a 1 year high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.78 and a current ratio of 0.92. The stock has a market cap of $57.21 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.34 and a beta of 1.31.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.21. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the company earned $4.15 earnings per share. Allergan’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts predict that Allergan plc will post 16.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, November 9th. Allergan’s dividend payout ratio is currently 17.61%.

In other Allergan news, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were acquired at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph H. Boccuzi acquired 900 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was acquired at an average price of $190.59 per share, for a total transaction of $171,531.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.

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Allergan Company Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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