State Board of Administration of Florida Retirement System reduced its stake in Allergan plc (NYSE:AGN) by 2.1% during the 2nd quarter, Holdings Channel reports. The firm owned 453,679 shares of the company’s stock after selling 9,701 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Allergan were worth $75,959,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Clearbridge Investments LLC boosted its position in shares of Allergan by 8.6% in the 1st quarter. Clearbridge Investments LLC now owns 9,167,006 shares of the company’s stock worth $1,342,141,000 after purchasing an additional 726,688 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Allergan by 6.5% in the 1st quarter. Artisan Partners Limited Partnership now owns 6,767,753 shares of the company’s stock worth $990,867,000 after purchasing an additional 410,746 shares during the last quarter. FMR LLC boosted its position in shares of Allergan by 42.0% in the 1st quarter. FMR LLC now owns 6,042,005 shares of the company’s stock worth $884,611,000 after purchasing an additional 1,788,265 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Allergan by 27.6% in the 1st quarter. Janus Henderson Group PLC now owns 5,855,576 shares of the company’s stock worth $857,312,000 after purchasing an additional 1,265,742 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Allergan by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock worth $533,767,000 after purchasing an additional 247,743 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
Several research analysts have weighed in on AGN shares. UBS Group reduced their target price on Allergan from $173.00 to $172.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Svb Leerink reiterated a “market perform” rating and set a $188.00 target price (down from $217.00) on shares of Allergan in a report on Thursday, July 18th. Cantor Fitzgerald lifted their target price on Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. ValuEngine lowered Allergan from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. set a $200.00 target price on Allergan and gave the stock a “buy” rating in a report on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Allergan has a consensus rating of “Hold” and a consensus target price of $179.43.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.34 by $0.04. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.93 billion. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.42 earnings per share. On average, equities analysts forecast that Allergan plc will post 16.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 13th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.84%. Allergan’s dividend payout ratio (DPR) is 17.74%.
Allergan Company 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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