TIAA CREF Investment Management LLC reduced its stake in shares of Allergan plc (NYSE:AGN) by 49.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,391,130 shares of the company’s stock after selling 1,359,521 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.42% of Allergan worth $227,561,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of AGN. Edgewood Management LLC grew its position in shares of Allergan by 24.3% during the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock worth $911,192,000 after buying an additional 869,248 shares during the period. Renaissance Technologies LLC grew its position in shares of Allergan by 1,049.7% during the 4th quarter. Renaissance Technologies LLC now owns 726,269 shares of the company’s stock worth $118,803,000 after buying an additional 663,100 shares during the period. Baupost Group LLC MA grew its position in shares of Allergan by 21.9% during the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after buying an additional 531,600 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Allergan by 4,852.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after buying an additional 492,930 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Allergan during the 3rd quarter worth about $92,182,000. Institutional investors own 77.97% of the company’s stock.
Several equities analysts have recently issued reports on AGN shares. Deutsche Bank restated a “buy” rating and set a $215.00 target price on shares of Allergan in a research report on Tuesday, January 9th. Barclays upgraded 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 report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research lowered Allergan from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. UBS set a $250.00 target price on Allergan and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Credit Suisse Group set a $214.00 price objective on Allergan and gave the company a “buy” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $224.02.
In related news, Director Joseph H. Boccuzi purchased 900 shares of the stock in a transaction on Monday, March 5th. The shares were purchased at an average price of $143.42 per share, with a total value of $129,078.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Maria Teresa Hilado purchased 895 shares of the stock in a transaction on Thursday, March 15th. The shares were bought at an average cost of $167.39 per share, for a total transaction of $149,814.05. The disclosure for this purchase can be found here. Insiders acquired a total of 8,095 shares of company stock worth $1,258,081 in the last 90 days. Company insiders own 0.36% of the company’s stock.
NYSE AGN opened at $161.52 on Friday. The company has a market capitalization of $57,521.17, a price-to-earnings ratio of 10.08, a PEG ratio of 1.18 and a beta of 1.18. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.38. Allergan plc has a 52 week low of $142.81 and a 52 week high of $256.80.
Allergan (NYSE:AGN) last released its earnings results on Tuesday, February 6th. The company reported $4.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.12. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Allergan had a positive return on equity of 8.43% and a negative net margin of 26.32%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.90 EPS. equities analysts expect that Allergan plc will post 15.58 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, February 28th were paid a $0.72 dividend. This is a boost from Allergan’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.78%. Allergan’s payout ratio is presently 17.61%.
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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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