State Board of Administration of Florida Retirement System decreased its position in shares of Allergan plc (NYSE:AGN) by 0.5% during the third quarter, HoldingsChannel.com reports. The fund owned 464,194 shares of the company’s stock after selling 2,146 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Allergan were worth $88,420,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the business. Boltwood Capital Management grew its stake in shares of Allergan by 5.6% in the 3rd quarter. Boltwood Capital Management now owns 5,081 shares of the company’s stock worth $967,000 after buying an additional 270 shares during the last quarter. Parkside Investments LLC grew its stake in shares of Allergan by 1.8% in the 2nd quarter. Parkside Investments LLC now owns 15,845 shares of the company’s stock worth $2,830,000 after buying an additional 275 shares during the last quarter. Avestar Capital LLC grew its stake in shares of Allergan by 25.1% in the 2nd quarter. Avestar Capital LLC now owns 1,483 shares of the company’s stock worth $230,000 after buying an additional 298 shares during the last quarter. New Jersey Better Educational Savings Trust grew its stake in shares of Allergan by 9.4% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the company’s stock worth $584,000 after buying an additional 300 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Allergan by 34.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,233 shares of the company’s stock worth $205,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 77.58% of the company’s stock.
NYSE AGN opened at $164.46 on Friday. The firm has a market cap of $54.54 billion, a PE ratio of 10.06, a PEG ratio of 1.25 and a beta of 1.19. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. Allergan plc has a 1-year low of $142.81 and a 1-year high of $197.00.
Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.21. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.15 EPS. As a group, analysts forecast that Allergan plc will post 16.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 annualized dividend and a dividend yield of 1.75%. Allergan’s payout ratio is 17.61%.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. ValuEngine upgraded Allergan from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. TheStreet upgraded Allergan from a “d+” rating to a “c” rating in a research note on Monday, August 20th. Cowen set a $255.00 price objective on Allergan and gave the company a “buy” rating in a research report on Wednesday, October 17th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $180.00 price objective on shares of Allergan in a research report on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $210.18.
In other news, Director Joseph H. Boccuzi purchased 900 shares of the stock in a transaction dated Thursday, August 30th. The shares were purchased at an average cost of $190.59 per share, with a total value of $171,531.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher J. Coughlin purchased 10,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were purchased at an average cost of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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