Teacher Retirement System of Texas reduced its stake in Allergan plc (NYSE:AGN) by 51.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,147 shares of the company’s stock after selling 18,272 shares during the period. Teacher Retirement System of Texas’ holdings in Allergan were worth $2,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AGN. BlackRock Inc. grew its position in shares of Allergan by 2.9% during the fourth quarter. BlackRock Inc. now owns 21,466,017 shares of the company’s stock worth $2,869,149,000 after buying an additional 600,535 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Allergan by 14,208.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,762,744 shares of the company’s stock worth $155,000 after buying an additional 20,617,639 shares in the last quarter. Longview Partners Guernsey LTD grew its position in shares of Allergan by 288.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock worth $805,450,000 after buying an additional 4,475,447 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Allergan by 27.6% during the first quarter. Janus Henderson Group PLC now owns 5,855,576 shares of the company’s stock worth $857,312,000 after buying an additional 1,265,742 shares in the last quarter. Finally, FMR LLC grew its position in shares of Allergan by 6.1% during the fourth quarter. FMR LLC now owns 4,253,740 shares of the company’s stock worth $568,554,000 after buying an additional 245,322 shares in the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.

NYSE AGN traded down $0.40 on Tuesday, reaching $138.38. The stock had a trading volume of 456,566 shares, compared to its average volume of 2,541,640. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00. The stock has a market cap of $45.45 billion, a P/E ratio of 8.29, a P/E/G ratio of 1.28 and a beta of 1.32.

Allergan (NYSE:AGN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $3.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.55 by $0.24. Allergan had a positive return on equity of 8.45% and a negative net margin of 45.94%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the business earned $3.74 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts predict that Allergan plc will post 16.68 earnings per share for the current year.

Allergan announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 29th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 14th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Monday, May 13th. Allergan’s dividend payout ratio is currently 17.74%.

In other news, Chairman Brent L. Saunders acquired 1,760 shares of Allergan stock in a transaction on Thursday, March 7th. The stock was bought at an average price of $143.67 per share, for a total transaction of $252,859.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

AGN has been the subject of a number of analyst reports. Leerink Swann set a $217.00 price objective on Allergan and gave the stock a “buy” rating in a research report on Thursday, March 7th. Credit Suisse Group downgraded Allergan from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $197.00 to $161.00 in a research report on Thursday, January 31st. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 4th. SunTrust Banks lowered their price objective on Allergan from $178.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, May 10th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lowered their price objective on Allergan from $189.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $184.52.

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Allergan Company Profile

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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