Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Stake Reduced by Wright Investors Service Inc.
Wright Investors Service Inc. decreased its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 34.9% during the second quarter, Holdings Channel reports. The fund owned 16,045 shares of the pharmacy operator’s stock after selling 8,620 shares during the period. Wright Investors Service Inc.’s holdings in Walgreens Boots Alliance were worth $1,257,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Regent Investment Management LLC increased its stake in Walgreens Boots Alliance by 8.5% in the first quarter. Regent Investment Management LLC now owns 80,129 shares of the pharmacy operator’s stock worth $6,655,000 after buying an additional 6,308 shares during the period. Pinnacle Bank acquired a new stake in Walgreens Boots Alliance during the first quarter worth $256,000. Oliver Luxxe Assets LLC increased its stake in Walgreens Boots Alliance by 8.2% in the first quarter. Oliver Luxxe Assets LLC now owns 9,064 shares of the pharmacy operator’s stock worth $753,000 after buying an additional 690 shares during the period. Tompkins Financial Corp increased its stake in Walgreens Boots Alliance by 5.1% in the first quarter. Tompkins Financial Corp now owns 41,578 shares of the pharmacy operator’s stock worth $3,503,000 after buying an additional 2,007 shares during the period. Finally, Atria Investments LLC increased its stake in Walgreens Boots Alliance by 16.3% in the first quarter. Atria Investments LLC now owns 19,465 shares of the pharmacy operator’s stock worth $1,617,000 after buying an additional 2,733 shares during the period. Hedge funds and other institutional investors own 61.17% of the company’s stock.
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) traded up 1.22% during mid-day trading on Friday, reaching $80.72. The company had a trading volume of 3,992,347 shares. The company’s 50 day moving average is $79.08 and its 200 day moving average is $82.30. The stock has a market capitalization of $86.38 billion, a price-to-earnings ratio of 20.38 and a beta of 1.25. Walgreens Boots Alliance, Inc. has a 52-week low of $75.18 and a 52-week high of $89.69.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 EPS for the quarter, topping the consensus estimate of $1.30 by $0.03. The business had revenue of $30.12 billion for the quarter, compared to the consensus estimate of $29.72 billion. Walgreens Boots Alliance had a return on equity of 17.34% and a net margin of 3.69%. Walgreens Boots Alliance’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 EPS. Equities analysts predict that Walgreens Boots Alliance, Inc. will post $5.01 earnings per share for the current year.
Walgreens Boots Alliance announced that its board has approved a share buyback plan on Thursday, June 29th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the pharmacy operator to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 18th will be issued a $0.40 dividend. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, August 16th. Walgreens Boots Alliance’s payout ratio is presently 37.78%.
A number of analysts recently weighed in on the company. BidaskClub upgraded Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. Needham & Company LLC set a $94.00 price target on Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Monday, July 17th. Credit Suisse Group reiterated a “buy” rating and set a $97.00 target price on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Leerink Swann set a $86.00 target price on Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Friday, July 7th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Walgreens Boots Alliance currently has a consensus rating of “Buy” and a consensus price target of $90.69.
In related news, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total value of $218,305.44. Following the completion of the transaction, the director now owns 19,151 shares in the company, valued at approximately $1,528,058.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.50% 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).
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