Municipal Employees Retirement System of Michigan reduced its position in Allergan PLC. (NYSE:AGN) by 20.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,641 shares of the company’s stock after selling 2,180 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Allergan PLC. were worth $1,771,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. New York State Common Retirement Fund raised its stake in Allergan PLC. by 2.2% in the 3rd quarter. New York State Common Retirement Fund now owns 1,135,114 shares of the company’s stock valued at $232,642,000 after acquiring an additional 24,627 shares during the period. Security Asset Management raised its stake in Allergan PLC. by 16.8% in the 3rd quarter. Security Asset Management now owns 9,513 shares of the company’s stock valued at $1,950,000 after acquiring an additional 1,365 shares during the period. Archon Partners LLC raised its stake in Allergan PLC. by 23.3% in the 3rd quarter. Archon Partners LLC now owns 37,041 shares of the company’s stock valued at $7,592,000 after acquiring an additional 7,000 shares during the period. Jarislowsky Fraser Ltd raised its stake in Allergan PLC. by 71.5% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 2,147 shares of the company’s stock valued at $440,000 after acquiring an additional 895 shares during the period. Finally, YHB Investment Advisors Inc. raised its stake in Allergan PLC. by 22.6% in the 3rd quarter. YHB Investment Advisors Inc. now owns 2,901 shares of the company’s stock valued at $595,000 after acquiring an additional 534 shares during the period. Institutional investors and hedge funds own 81.21% of the company’s stock.
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A number of equities research analysts recently issued reports on AGN shares. Credit Suisse Group restated an “outperform” rating and issued a $286.00 price objective (up from $274.00) on shares of Allergan PLC. in a research note on Thursday, July 20th. Mizuho restated a “buy” rating and issued a $267.00 price objective on shares of Allergan PLC. in a research note on Wednesday, August 2nd. Wells Fargo & Company boosted their price objective on Allergan PLC. to $278.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada set a $285.00 price objective on Allergan PLC. and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut Allergan PLC. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Allergan PLC. has a consensus rating of “Hold” and a consensus target price of $246.73.
Shares of Allergan PLC. (AGN) opened at $172.92 on Thursday. The stock has a market capitalization of $57,550.00, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08. Allergan PLC. has a 52 week low of $169.61 and a 52 week high of $256.80.
Allergan PLC. (NYSE:AGN) last issued its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.04 billion. Allergan PLC. had a positive return on equity of 8.00% and a negative net margin of 47.27%. Allergan PLC.’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.32 earnings per share. equities analysts expect that Allergan PLC. will post 16.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio is currently -12.39%.
Allergan PLC. announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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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