Walgreens Boots Alliance Inc (NASDAQ:WBA) Director John Anthony Lederer acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were purchased at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at $3,350,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.10. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The company had revenue of $30.15 billion for the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis.
Walgreens Boots Alliance announced that its board has approved a share buyback plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.41%. Walgreens Boots Alliance’s dividend payout ratio is currently 42.33%.
Large investors have recently bought and sold shares of the business. IBM Retirement Fund raised its position in Walgreens Boots Alliance by 88.1% in the second quarter. IBM Retirement Fund now owns 22,903 shares of the pharmacy operator’s stock valued at $2,004,000 after purchasing an additional 10,729 shares during the period. Andra AP fonden raised its position in Walgreens Boots Alliance by 35.3% in the second quarter. Andra AP fonden now owns 58,300 shares of the pharmacy operator’s stock valued at $4,565,000 after purchasing an additional 15,200 shares during the period. Schwab Charles Investment Management Inc. raised its position in Walgreens Boots Alliance by 5.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,019,739 shares of the pharmacy operator’s stock valued at $236,476,000 after purchasing an additional 154,995 shares during the period. Birinyi Associates Inc. raised its position in Walgreens Boots Alliance by 9.0% in the second quarter. Birinyi Associates Inc. now owns 9,100 shares of the pharmacy operator’s stock valued at $713,000 after purchasing an additional 750 shares during the period. Finally, Montecito Bank & Trust raised its position in Walgreens Boots Alliance by 3.6% in the second quarter. Montecito Bank & Trust now owns 6,661 shares of the pharmacy operator’s stock valued at $522,000 after purchasing an additional 230 shares during the period. Institutional investors own 60.24% of the company’s stock.
WBA has been the topic of several recent research reports. Pivotal Research decreased their price objective on Walgreens Boots Alliance from $85.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, October 24th. Loop Capital initiated coverage on Walgreens Boots Alliance in a report on Thursday, August 24th. They set a “buy” rating and a $95.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 price objective on shares of Walgreens Boots Alliance in a report on Thursday, October 12th. BidaskClub cut Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $88.00 price objective on shares of Walgreens Boots Alliance in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $88.00.
Walgreens Boots Alliance Company 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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