Merit Financial Group LLC Grows Holdings in Allergan plc (NYSE:AGN)

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Merit Financial Group LLC raised its stake in shares of Allergan plc (NYSE:AGN) by 31.2% in the 1st quarter, Holdings Channel reports. The firm owned 2,707 shares of the company’s stock after acquiring an additional 644 shares during the period. Merit Financial Group LLC’s holdings in Allergan were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGN. Woodstock Corp raised its position in Allergan by 0.5% in the 1st quarter. Woodstock Corp now owns 14,332 shares of the company’s stock worth $2,098,000 after purchasing an additional 72 shares during the period. Founders Financial Securities LLC raised its position in Allergan by 1.8% in the 4th quarter. Founders Financial Securities LLC now owns 4,216 shares of the company’s stock worth $564,000 after purchasing an additional 75 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in 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 purchasing an additional 75 shares during the period. Berman Capital Advisors LLC raised its position in 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 purchasing an additional 78 shares during the period. Finally, CWM LLC raised its position in Allergan by 31.4% in the 1st quarter. CWM LLC now owns 356 shares of the company’s stock worth $52,000 after purchasing an additional 85 shares during the period. 80.15% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on AGN shares. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. SunTrust Banks reduced their target price on shares of Allergan from $178.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and set a $194.00 target price on shares of Allergan in a research report on Wednesday, April 24th. Wells Fargo & Co reaffirmed a “buy” rating and set a $189.00 target price (down from $202.00) on shares of Allergan in a research report on Thursday, March 7th. Finally, Credit Suisse Group set a $155.00 target price on shares of Allergan and gave the stock a “hold” rating in a research report on Monday, March 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $175.30.

AGN stock traded up $0.71 during trading on Monday, hitting $116.63. 1,120,364 shares of the company’s stock traded hands, compared to its average volume of 2,777,444. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 1.06 and a beta of 1.39. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. Allergan plc has a 1 year low of $115.19 and a 1 year high of $197.00.

Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $3.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.55 by $0.24. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. Allergan’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $3.74 earnings per share. Analysts anticipate that Allergan plc will post 16.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 14th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, May 13th. Allergan’s payout ratio is 17.74%.

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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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