Loeb Partners Corp maintained its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,150 shares of the pharmacy operator’s stock at the close of the second quarter. Loeb Partners Corp’s holdings in Walgreens Boots Alliance were worth $325,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Walgreens Boots Alliance by 72.9% in the 1st quarter. Russell Investments Group Ltd. now owns 482,962 shares of the pharmacy operator’s stock worth $40,115,000 after buying an additional 203,635 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Walgreens Boots Alliance by 9.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 75,821 shares of the pharmacy operator’s stock worth $6,296,000 after buying an additional 6,462 shares in the last quarter. Wellington Management Group LLP increased its stake in Walgreens Boots Alliance by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock worth $2,727,932,000 after buying an additional 1,824,300 shares in the last quarter. Welch & Forbes LLC increased its stake in Walgreens Boots Alliance by 4.8% in the 1st quarter. Welch & Forbes LLC now owns 96,882 shares of the pharmacy operator’s stock worth $8,046,000 after buying an additional 4,453 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in Walgreens Boots Alliance in the 1st quarter worth $301,000. 60.18% of the stock is currently owned by institutional investors.
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WBA has been the subject of a number of analyst reports. Zacks Investment Research lowered Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Loop Capital started coverage on Walgreens Boots Alliance in a research report on Thursday, August 24th. They set a “buy” rating and a $95.00 price objective for the company. Jefferies Group LLC cut their price objective on Walgreens Boots Alliance from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 31st. Needham & Company LLC started coverage on Walgreens Boots Alliance in a research report on Tuesday, June 27th. They set a “hold” rating for the company. Finally, Credit Suisse Group restated a “buy” rating and set a $97.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. Walgreens Boots Alliance has a consensus rating of “Buy” and an average price target of $91.81.
In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total transaction of $218,305.44. Following the completion of the transaction, the director now owns 19,151 shares of the company’s stock, 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. Company insiders own 13.50% of the company’s stock.
Shares of Walgreens Boots Alliance Inc (NASDAQ WBA) opened at 81.39 on Monday. The stock’s 50 day moving average is $80.80 and its 200 day moving average is $82.15. Walgreens Boots Alliance Inc has a 1-year low of $75.18 and a 1-year high of $88.00. The company has a market cap of $87.10 billion, a P/E ratio of 20.55 and a beta of 1.26.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.03. The firm had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. On average, analysts predict that Walgreens Boots Alliance Inc will post $5.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 40.30%.
Walgreens Boots Alliance announced that its board has initiated a share buyback program on Thursday, June 29th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the pharmacy operator to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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