Patten & Patten Inc. TN raised its stake in Walgreens Boots Alliance Inc. (NASDAQ:WBA) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 113,777 shares of the pharmacy operator’s stock after buying an additional 1,954 shares during the period. Walgreens Boots Alliance comprises about 1.2% of Patten & Patten Inc. TN’s holdings, making the stock its 24th largest position. Patten & Patten Inc. TN’s holdings in Walgreens Boots Alliance were worth $9,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WBA. Thomaspartners Inc. increased its stake in shares of Walgreens Boots Alliance by 0.4% in the second quarter. Thomaspartners Inc. now owns 4,337 shares of the pharmacy operator’s stock valued at $361,000 after buying an additional 18 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Walgreens Boots Alliance by 0.9% in the second quarter. First Citizens Bank & Trust Co. now owns 2,470 shares of the pharmacy operator’s stock valued at $206,000 after buying an additional 21 shares during the last quarter. Blue Chip Partners Inc. increased its stake in shares of Walgreens Boots Alliance by 0.4% in the second quarter. Blue Chip Partners Inc. now owns 6,633 shares of the pharmacy operator’s stock valued at $552,000 after buying an additional 24 shares during the last quarter. Cobiz Investment Management LLC increased its stake in shares of Walgreens Boots Alliance by 0.3% in the third quarter. Cobiz Investment Management LLC now owns 7,423 shares of the pharmacy operator’s stock valued at $598,000 after buying an additional 25 shares during the last quarter. Finally, Atlanta Capital Group increased its stake in shares of Walgreens Boots Alliance by 1.1% in the second quarter. Atlanta Capital Group now owns 4,088 shares of the pharmacy operator’s stock valued at $340,000 after buying an additional 45 shares during the last quarter. 58.93% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

Walgreens Boots Alliance Inc. (NASDAQ:WBA) remained flat at $85.35 during midday trading on Tuesday. 1,782,818 shares of the company’s stock traded hands. The firm has a market cap of $92.46 billion, a PE ratio of 22.34 and a beta of 1.19. Walgreens Boots Alliance Inc. has a 12-month low of $71.50 and a 12-month high of $87.05. The stock has a 50 day moving average price of $81.44 and a 200 day moving average price of $81.10.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Thursday, October 20th. The pharmacy operator reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The firm earned $28.60 billion during the quarter, compared to analyst estimates of $29.06 billion. Walgreens Boots Alliance had a return on equity of 16.33% and a net margin of 3.56%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. On average, analysts expect that Walgreens Boots Alliance Inc. will post $5.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Thursday, November 17th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, November 15th. Walgreens Boots Alliance’s payout ratio is 39.27%.

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Several analysts have weighed in on WBA shares. Robert W. Baird reiterated an “outperform” rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a research report on Tuesday, October 4th. Wells Fargo & Co. started coverage on Walgreens Boots Alliance in a research report on Monday, October 31st. They issued an “outperform” rating for the company. Leerink Swann reiterated an “outperform” rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a research report on Monday, September 19th. Deutsche Bank AG reiterated a “buy” rating and issued a $94.00 price objective on shares of Walgreens Boots Alliance in a research report on Wednesday, September 28th. Finally, Zacks Investment Research upgraded Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.30.

In other Walgreens Boots Alliance news, insider Stefano Pessina bought 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $81.41 per share, for a total transaction of $162,820,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kathleen Wilson-Thompson sold 23,996 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $85.00, for a total value of $2,039,660.00. The disclosure for this sale can be found here. 21.10% of the stock is owned by insiders.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).

5 Day Chart for NASDAQ:WBA

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