Meiji Yasuda Life Insurance Co cut its holdings in shares of Allergan plc (NYSE:AGN) by 13.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,342 shares of the company’s stock after selling 1,609 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Allergan were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AGN. Liberty Wealth Management LLC boosted its position in shares of Allergan by 108.8% during the first quarter. Liberty Wealth Management LLC now owns 190 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Legacy Bridge LLC acquired a new stake in Allergan in the first quarter worth approximately $27,000. Patriot Financial Group Insurance Agency LLC lifted its position in Allergan by 2,162.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 181 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Investors Research Corp acquired a new stake in Allergan in the first quarter worth approximately $29,000. Finally, JNBA Financial Advisors acquired a new stake in Allergan in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

A number of equities research analysts have weighed in on AGN shares. Leerink Swann set a $217.00 target price on Allergan and gave the stock a “buy” rating in a research report on Thursday, March 7th. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 4th. SunTrust Banks cut their target price 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. Wells Fargo & Co cut their target price on Allergan from $189.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Finally, Mizuho restated a “buy” rating and issued a $194.00 target price on shares of Allergan in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $175.30.

Shares of NYSE AGN traded up $0.75 during trading on Wednesday, hitting $123.60. The company had a trading volume of 49,106 shares, compared to its average volume of 2,586,623. The stock has a market capitalization of $40.59 billion, a P/E ratio of 7.40, a P/E/G ratio of 1.16 and a beta of 1.39. Allergan plc has a 52 week low of $120.68 and a 52 week high of $197.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.71.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 14th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.96 annualized dividend and a dividend yield of 2.39%. Allergan’s dividend payout ratio is currently 17.74%.

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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.

Further Reading: Cost of Capital

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Institutional Ownership by Quarter for Allergan (NYSE:AGN)

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