Allergan plc (AGN) Stake Lowered by IBM Retirement Fund

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IBM Retirement Fund trimmed its position in shares of Allergan plc (NYSE:AGN) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,259 shares of the company’s stock after selling 911 shares during the period. IBM Retirement Fund’s holdings in Allergan were worth $1,210,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Edgewood Management LLC grew its stake in Allergan by 2.6% during the second quarter. Edgewood Management LLC now owns 5,728,391 shares of the company’s stock valued at $955,037,000 after acquiring an additional 144,282 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Allergan by 3.8% in the 1st quarter. Franklin Resources Inc. now owns 5,385,943 shares of the company’s stock worth $906,410,000 after buying an additional 198,257 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Allergan by 16.3% in the 2nd quarter. Janus Henderson Group PLC now owns 4,778,699 shares of the company’s stock worth $796,712,000 after buying an additional 668,343 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Allergan by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,254,493 shares of the company’s stock worth $715,989,000 after buying an additional 58,722 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Allergan by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock worth $591,116,000 after buying an additional 99,490 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

In other news, Director Joseph H. Boccuzi purchased 900 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average cost of $190.59 per share, with a total value of $171,531.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by insiders.

A number of equities analysts have commented on AGN shares. Zacks Investment Research raised shares of Allergan from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research note on Wednesday, July 11th. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research note on Tuesday, June 5th. Piper Jaffray Companies set a $161.00 price objective on shares of Allergan and gave the stock a “hold” rating in a research note on Thursday, May 31st. Cantor Fitzgerald set a $180.00 price objective on shares of Allergan and gave the stock a “hold” rating in a research note on Monday, June 11th. Finally, Credit Suisse Group set a $213.00 price objective on shares of Allergan and gave the stock a “buy” rating in a research note on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $210.10.

AGN stock opened at $191.24 on Thursday. Allergan plc has a 12 month low of $142.81 and a 12 month high of $237.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85. The stock has a market cap of $65.07 billion, a P/E ratio of 11.70, a PEG ratio of 1.47 and a beta of 1.21.

Allergan (NYSE:AGN) last released its quarterly earnings results on Thursday, July 26th. The company reported $4.42 EPS for the quarter, topping analysts’ consensus estimates of $4.13 by $0.29. Allergan had a negative net margin of 10.29% and a positive return on equity of 8.60%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company earned $4.02 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. research analysts expect that Allergan plc will post 16.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 17th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.51%. Allergan’s dividend payout ratio is presently 17.61%.

About Allergan

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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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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