Teachers Retirement System of The State of Kentucky reduced its position in shares of Allergan plc (NYSE:AGN) by 19.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,389 shares of the company’s stock after selling 65,721 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.08% of Allergan worth $44,066,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Edgewood Management LLC raised its position in Allergan by 24.3% during the third quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after purchasing an additional 869,248 shares in the last quarter. Geode Capital Management LLC raised its position in Allergan by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,422,365 shares of the company’s stock valued at $558,625,000 after purchasing an additional 72,303 shares in the last quarter. Baupost Group LLC MA raised its position in Allergan by 21.9% during the third quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock valued at $607,513,000 after purchasing an additional 531,600 shares in the last quarter. Parnassus Investments CA raised its position in Allergan by 20.4% during the fourth quarter. Parnassus Investments CA now owns 2,161,833 shares of the company’s stock valued at $353,633,000 after purchasing an additional 365,914 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in Allergan by 1.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,805,608 shares of the company’s stock valued at $370,060,000 after purchasing an additional 17,068 shares in the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.
Allergan plc (NYSE AGN) opened at $157.28 on Monday. Allergan plc has a fifty-two week low of $142.81 and a fifty-two week high of $256.80. The firm has a market cap of $54,790.00, a PE ratio of -13.12, a PEG ratio of 1.11 and a beta of 1.29. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.38.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.83%. This is a positive change from Allergan’s previous quarterly dividend of $0.70. Allergan’s dividend payout ratio is currently -24.02%.
AGN has been the topic of a number of research reports. Argus cut shares of Allergan from a “buy” rating to a “hold” rating and decreased their target price for the stock from $256.80 to $160.07 in a research note on Thursday, December 7th. Deutsche Bank reaffirmed a “buy” rating and set a $215.00 target price on shares of Allergan in a research note on Tuesday, January 9th. Barclays raised shares of Allergan from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $220.00 to $230.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Allergan from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Vetr cut shares of Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 target price on the stock. in a research note on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $225.03.
In other Allergan news, Director Joseph H. Boccuzi bought 900 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average price of $143.42 per share, for a total transaction of $129,078.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William Meury sold 58,879 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $160.62, for a total transaction of $9,457,144.98. The disclosure for this sale can be found here. Insiders purchased a total of 7,200 shares of company stock worth $1,108,267 in the last 90 days. 0.36% of the stock is currently owned by company insiders.
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Allergan Company Profile
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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