Louisiana State Employees Retirement System reduced its holdings in shares of Allergan plc (NYSE:AGN) by 0.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,500 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Allergan were worth $2,416,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JNBA Financial Advisors bought a new stake in shares of Allergan during the 4th quarter worth approximately $30,000. Washington Trust Bank lifted its stake in shares of Allergan by 166.7% during the 1st quarter. Washington Trust Bank now owns 240 shares of the company’s stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Allergan during the 4th quarter worth approximately $49,000. Ruggie Capital Group bought a new stake in shares of Allergan during the 4th quarter worth approximately $53,000. Finally, Lindbrook Capital LLC bought a new stake in shares of Allergan during the 4th quarter worth approximately $55,000. 80.65% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman Brent L. Saunders purchased 1,760 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were acquired at an average cost of $143.67 per share, for a total transaction of $252,859.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.

Shares of NYSE:AGN traded down $1.85 on Monday, reaching $143.10. The company had a trading volume of 22,165 shares, compared to its average volume of 2,002,231. Allergan plc has a 52-week low of $125.84 and a 52-week high of $197.00. The company has a market capitalization of $48.21 billion, a PE ratio of 8.58, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Tuesday, January 29th. The company reported $4.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.15 by $0.14. Allergan had a positive return on equity of 8.18% and a negative net margin of 32.28%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $4.86 EPS. The business’s revenue was down 5.7% compared to the same quarter last year. Research analysts predict that Allergan plc will post 16.37 EPS for the current year.

Allergan declared that its Board of Directors has authorized a stock buyback program on Tuesday, January 29th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of brokerages recently issued reports on AGN. SunTrust Banks assumed coverage on Allergan in a research note on Tuesday, March 19th. They set a “buy” rating and a $178.00 price target for the company. ValuEngine upgraded Allergan from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 15th. Credit Suisse Group set a $155.00 price objective on Allergan and gave the stock a “hold” rating in a report on Monday, March 25th. Royal Bank of Canada set a $165.00 price objective on Allergan and gave the stock a “hold” rating in a report on Monday, March 25th. Finally, UBS Group reduced their price objective on Allergan from $174.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Allergan has an average rating of “Hold” and an average price target of $188.14.

TRADEMARK VIOLATION NOTICE: This story was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://theolympiareport.com/2019/04/15/allergan-plc-agn-shares-sold-by-louisiana-state-employees-retirement-system.html.

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.

Recommended Story: Should You Consider an Index Fund?

Want to see what other hedge funds are holding AGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allergan plc (NYSE:AGN).

Institutional Ownership by Quarter for Allergan (NYSE:AGN)

Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.