BB&T Corp Increases Position in Allergan plc (NYSE:AGN)
BB&T Corp increased its stake in Allergan plc (NYSE:AGN) by 22.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,179 shares of the company’s stock after acquiring an additional 761 shares during the period. BB&T Corp’s holdings in Allergan were worth $703,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Fusion Family Wealth LLC boosted its holdings in shares of Allergan by 81.4% during the third quarter. Fusion Family Wealth LLC now owns 176 shares of the company’s stock worth $30,000 after purchasing an additional 79 shares during the period. CAPROCK Group Inc. bought a new position in Allergan in the third quarter worth about $201,000. Texas Permanent School Fund raised its stake in Allergan by 2.8% in the third quarter. Texas Permanent School Fund now owns 61,103 shares of the company’s stock worth $10,283,000 after buying an additional 1,679 shares in the last quarter. Comerica Bank raised its stake in Allergan by 1.3% in the third quarter. Comerica Bank now owns 58,624 shares of the company’s stock worth $10,196,000 after buying an additional 758 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Allergan by 26.0% in the third quarter. California Public Employees Retirement System now owns 779,579 shares of the company’s stock worth $131,195,000 after buying an additional 160,873 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.
A number of equities analysts recently issued reports on AGN shares. UBS Group increased their price target on shares of Allergan from $172.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Guggenheim downgraded shares of Allergan from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald increased their price target on shares of Allergan from $125.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein downgraded shares of Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price target for the company. in a research note on Tuesday, July 16th. Finally, Barclays increased their price target on shares of Allergan from $176.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. Allergan presently has a consensus rating of “Hold” and an average target price of $175.16.
Allergan (NYSE:AGN) last announced its earnings results on Tuesday, November 5th. The company reported $4.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $4.25. Allergan had a negative net margin of 58.50% and a positive return on equity of 9.08%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the firm earned $4.25 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that Allergan plc will post 16.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, November 12th. Allergan’s dividend payout ratio is 17.74%.
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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