Retirement Systems of Alabama Lowers Holdings in Allergan PLC. (AGN)
Retirement Systems of Alabama cut its position in Allergan PLC. (NYSE:AGN) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,192 shares of the company’s stock after selling 655 shares during the quarter. Retirement Systems of Alabama owned about 0.08% of Allergan PLC. worth $55,581,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in shares of Allergan PLC. in the second quarter valued at $103,000. Cable Hill Partners LLC raised its stake in shares of Allergan PLC. by 255.2% in the third quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock valued at $106,000 after buying an additional 370 shares during the period. Rockefeller Financial Services Inc. raised its stake in shares of Allergan PLC. by 283.7% in the third quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock valued at $111,000 after buying an additional 400 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Allergan PLC. by 4.9% in the first quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock valued at $112,000 after buying an additional 22 shares during the period. Finally, Massey Quick & Co. LLC raised its stake in shares of Allergan PLC. by 334.8% in the second quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock valued at $122,000 after buying an additional 385 shares during the period. Hedge funds and other institutional investors own 81.21% of the company’s stock.
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AGN has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 price objective (down from $277.00) on shares of Allergan PLC. in a research note on Thursday, October 19th. They noted that the move was a valuation call. J P Morgan Chase & Co set a $275.00 price objective on Allergan PLC. and gave the company a “buy” rating in a research note on Sunday, October 22nd. BidaskClub lowered Allergan PLC. from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho reiterated a “buy” rating and set a $267.00 price objective on shares of Allergan PLC. in a research note on Monday, September 25th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $258.00 price objective on shares of Allergan PLC. in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of €246.73 ($286.90).
Allergan PLC. (NYSE:AGN) traded down €0.79 ($0.92) on Monday, hitting €172.21 ($200.24). The stock had a trading volume of 3,251,700 shares, compared to its average volume of 2,918,937. Allergan PLC. has a 1 year low of €169.64 ($197.26) and a 1 year high of €256.80 ($298.60). The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. The stock has a market cap of $57,270.00, a PE ratio of 11.17, a P/E/G ratio of 1.09 and a beta of 1.12.
Allergan PLC. (NYSE:AGN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported €4.15 ($4.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of €4.06 ($4.72) by €0.09 ($0.10). Allergan PLC. had a positive return on equity of 8.00% and a negative net margin of 47.27%. The firm had revenue of €4.03 billion during the quarter, compared to analysts’ expectations of €4.04 billion. During the same period in the prior year, the business earned $3.32 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. research analysts expect that Allergan PLC. will post 16.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s payout ratio is currently -12.39%.
Allergan PLC. announced that its Board of Directors has authorized a stock repurchase plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
About Allergan PLC.
Allergan plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products that provide treatment for the central nervous system, gastroenterology, womens health and urology, ophthalmology, neurosciences, medical aesthetics, dermatology, plastic surgery, liver disease, inflammation, metabolic syndromes, and fibrosis, as well as Alzheimers disease.
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