Hudson Valley Investment Advisors Inc. ADV reduced its stake in shares of Allergan plc (NYSE:AGN) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,126 shares of the company’s stock after selling 760 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Allergan were worth $458,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Allergan by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,637,854 shares of the company’s stock worth $692,939,000 after purchasing an additional 92,297 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Allergan by 48.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,707 shares of the company’s stock worth $897,000 after purchasing an additional 1,538 shares during the last quarter. LPL Financial LLC increased its holdings in Allergan by 2.3% during the 3rd quarter. LPL Financial LLC now owns 65,034 shares of the company’s stock worth $12,388,000 after purchasing an additional 1,492 shares during the last quarter. MUFG Americas Holdings Corp increased its holdings in Allergan by 16.5% during the 3rd quarter. MUFG Americas Holdings Corp now owns 66,412 shares of the company’s stock worth $12,650,000 after purchasing an additional 9,416 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in Allergan by 1,297.8% during the 3rd quarter. Vident Investment Advisory LLC now owns 20,632 shares of the company’s stock worth $3,930,000 after purchasing an additional 19,156 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.

NYSE:AGN opened at $146.10 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.35. Allergan plc has a 12-month low of $125.84 and a 12-month high of $197.00. The company has a market cap of $49.04 billion, a P/E ratio of 8.75, a P/E/G ratio of 1.18 and a beta of 1.34.

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, topping 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 company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the firm posted $4.86 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts expect that Allergan plc will post 16.37 EPS for the current fiscal year.

Allergan declared that its Board of Directors has initiated a share buyback program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 15th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, February 14th. This is a positive change from Allergan’s previous quarterly dividend of $0.72. Allergan’s payout ratio is 17.74%.

In other Allergan news, Chairman Brent L. Saunders purchased 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

Several equities research analysts have issued reports on AGN shares. Leerink Swann set a $217.00 price objective on Allergan and gave the stock a “buy” rating in a report on Thursday, March 7th. Credit Suisse Group downgraded Allergan from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $197.00 to $161.00 in a report on Thursday, January 31st. ValuEngine downgraded Allergan from a “sell” rating to a “strong sell” rating in a report on Thursday, April 4th. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, TheStreet downgraded Allergan from a “c” rating to a “d+” rating in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. Allergan has a consensus rating of “Buy” and a consensus target price of $190.30.

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Allergan 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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