Teacher Retirement System of Texas Sells 50,893 Shares of Allergan PLC. (AGN)
Teacher Retirement System of Texas decreased its stake in shares of Allergan PLC. (NYSE:AGN) by 16.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 255,107 shares of the company’s stock after selling 50,893 shares during the period. Teacher Retirement System of Texas owned 0.08% of Allergan PLC. worth $52,284,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of AGN. Howard Hughes Medical Institute purchased a new stake in Allergan PLC. during the 2nd quarter worth about $103,000. Cable Hill Partners LLC increased its stake in Allergan PLC. by 255.2% in the 3rd quarter. Cable Hill Partners LLC now owns 515 shares of the company’s stock worth $106,000 after acquiring an additional 370 shares during the last quarter. Rockefeller Financial Services Inc. increased its stake in Allergan PLC. by 283.7% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 541 shares of the company’s stock worth $111,000 after acquiring an additional 400 shares during the last quarter. Jacobi Capital Management LLC increased its stake in Allergan PLC. by 4.9% in the 1st quarter. Jacobi Capital Management LLC now owns 472 shares of the company’s stock worth $112,000 after acquiring an additional 22 shares during the last quarter. Finally, Massey Quick & Co. LLC increased its stake in Allergan PLC. by 334.8% in the 2nd quarter. Massey Quick & Co. LLC now owns 500 shares of the company’s stock worth $122,000 after acquiring an additional 385 shares during the last quarter. 81.21% of the stock is currently owned by institutional investors and hedge funds.
Allergan PLC. (AGN) traded up $2.19 on Monday, hitting $174.40. The stock had a trading volume of 2,411,671 shares, compared to its average volume of 2,918,937. The stock has a market cap of $57,270.00, a PE ratio of 11.17, a PEG ratio of 1.09 and a beta of 1.12. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Allergan PLC. has a 52 week low of $169.64 and a 52 week high of $256.80.
Allergan PLC. (NYSE:AGN) last released its earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, beating the Zacks’ consensus estimate of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Allergan PLC. had a positive return on equity of 8.00% and a negative net margin of 47.27%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.32 EPS. sell-side analysts predict that Allergan PLC. will post 16.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, November 16th. Allergan PLC.’s payout ratio is -12.39%.
Allergan PLC. declared that its Board of Directors has initiated a share buyback plan on Monday, September 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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A number of equities analysts have weighed in on AGN shares. Argus restated a “buy” rating and issued a $280.00 target price on shares of Allergan PLC. in a research note on Monday, August 14th. Deutsche Bank AG restated a “buy” rating and issued a $273.00 target price (up from $265.00) on shares of Allergan PLC. in a research note on Monday, July 17th. Royal Bank Of Canada set a $284.00 target price on Allergan PLC. and gave the stock a “buy” rating in a research note on Sunday, July 16th. Mizuho restated a “buy” rating and issued a $267.00 target price on shares of Allergan PLC. in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group set a $288.00 target price on Allergan PLC. and gave the stock a “buy” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $246.73.
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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