Northern Oak Wealth Management Inc. Decreases Position in Walgreens Boots Alliance Inc (WBA)
Northern Oak Wealth Management Inc. reduced its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,105 shares of the pharmacy operator’s stock after selling 1,302 shares during the period. Northern Oak Wealth Management Inc.’s holdings in Walgreens Boots Alliance were worth $240,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Hudock Capital Group LLC grew its holdings in Walgreens Boots Alliance by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after purchasing an additional 6 shares during the period. Westside Investment Management Inc. grew its holdings in Walgreens Boots Alliance by 10.4% in the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after purchasing an additional 125 shares during the period. Zions Bancorporation grew its holdings in Walgreens Boots Alliance by 983.3% in the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 1,239 shares during the period. IHT Wealth Management LLC grew its holdings in Walgreens Boots Alliance by 46.3% in the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock worth $135,000 after purchasing an additional 2,199 shares during the period. Finally, Bristlecone Advisors LLC purchased a new stake in Walgreens Boots Alliance in the third quarter worth about $135,000. 61.18% of the stock is owned by institutional investors.
Shares of Walgreens Boots Alliance Inc (NASDAQ WBA) opened at $76.07 on Friday. Walgreens Boots Alliance Inc has a fifty-two week low of $63.82 and a fifty-two week high of $88.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.47. The stock has a market cap of $75,340.00, a P/E ratio of 21.01, a P/E/G ratio of 1.28 and a beta of 1.22.
Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. Walgreens Boots Alliance had a net margin of 3.19% and a return on equity of 19.15%. The company had revenue of $30.74 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. analysts expect that Walgreens Boots Alliance Inc will post 5.67 EPS for the current fiscal year.
Walgreens Boots Alliance declared that its board has authorized a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other Walgreens Boots Alliance news, Director John Anthony Lederer purchased 20,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were acquired at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $3,350,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the completion of the transaction, the director now owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. Company insiders own 14.80% of the company’s stock.
A number of equities research analysts have weighed in on WBA shares. Needham & Company LLC restated a “buy” rating and issued a $94.00 price objective on shares of Walgreens Boots Alliance in a report on Saturday, September 16th. Royal Bank of Canada started coverage on shares of Walgreens Boots Alliance in a report on Tuesday, September 19th. They issued an “outperform” rating and a $96.00 price objective on the stock. Jefferies Group restated a “buy” rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a report on Wednesday, September 20th. Raymond James Financial restated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Wednesday, September 27th. Finally, BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 3rd. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Walgreens Boots Alliance presently has a consensus rating of “Buy” and a consensus target price of $86.20.
Walgreens Boots Alliance Profile
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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