New York State Teachers Retirement System Sells 19,668 Shares of Allergan plc (NYSE:AGN)
New York State Teachers Retirement System cut its position in Allergan plc (NYSE:AGN) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 464,938 shares of the company’s stock after selling 19,668 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of Allergan worth $77,845,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AGN. Dimensional Fund Advisors LP boosted its position in Allergan by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,606,982 shares of the company’s stock valued at $214,787,000 after buying an additional 13,100 shares in the last quarter. Geode Capital Management LLC boosted its position in Allergan by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,000,839 shares of the company’s stock valued at $533,767,000 after buying an additional 247,743 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Allergan in the fourth quarter valued at approximately $708,000. Thrivent Financial for Lutherans boosted its position in Allergan by 70.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,603 shares of the company’s stock valued at $3,155,000 after buying an additional 9,787 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in Allergan by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 94,358 shares of the company’s stock valued at $12,612,000 after buying an additional 2,382 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.
A number of analysts have weighed in on AGN shares. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price (up previously from $116.00) on shares of Zoetis in a research report on Wednesday, June 12th. Sanford C. Bernstein lowered shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 target price on the stock. in a research report on Tuesday, July 16th. SunTrust Banks restated a “hold” rating and issued a $25.00 target price on shares of Simply Good Foods in a research report on Wednesday, July 3rd. Barclays cut their target price on shares of from GBX 320 ($4.18) to GBX 290 ($3.79) and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. Finally, UBS Group raised their target price on shares of Zayo Group from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $175.48.
Allergan (NYSE:AGN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $3.79 EPS for the quarter, topping analysts’ consensus estimates of $3.55 by $0.24. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. Allergan’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.74 earnings per share. Sell-side analysts anticipate that Allergan plc will post 16.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Monday, August 12th. Allergan’s dividend payout ratio is presently 17.74%.
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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