Alta Capital Management LLC lifted its position in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,550 shares of the pharmacy operator’s stock after purchasing an additional 5,813 shares during the period. Alta Capital Management LLC’s holdings in Walgreens Boots Alliance were worth $20,583,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WBA. Ahrens Investment Partners LLC bought a new stake in Walgreens Boots Alliance in the third quarter worth about $270,000. Carnick & Kubik Group LLC bought a new stake in Walgreens Boots Alliance in the third quarter worth about $2,320,000. Farmers & Merchants Investments Inc. raised its position in Walgreens Boots Alliance by 3.4% in the third quarter. Farmers & Merchants Investments Inc. now owns 84,963 shares of the pharmacy operator’s stock worth $6,561,000 after acquiring an additional 2,783 shares during the period. Foster & Motley Inc. raised its position in Walgreens Boots Alliance by 39.8% in the third quarter. Foster & Motley Inc. now owns 3,879 shares of the pharmacy operator’s stock worth $300,000 after acquiring an additional 1,104 shares during the period. Finally, LS Investment Advisors LLC raised its position in Walgreens Boots Alliance by 2.5% in the third quarter. LS Investment Advisors LLC now owns 68,053 shares of the pharmacy operator’s stock worth $5,255,000 after acquiring an additional 1,691 shares during the period. 60.24% of the stock is currently owned by institutional investors.
Walgreens Boots Alliance Inc (NASDAQ WBA) opened at $71.55 on Friday. The company has a market cap of $68,938.66, a P/E ratio of 13.65, a P/E/G ratio of 1.24 and a beta of 1.22. Walgreens Boots Alliance Inc has a 12 month low of $63.82 and a 12 month high of $88.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.07.
Walgreens Boots Alliance declared that its board has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be paid 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 2.24%. Walgreens Boots Alliance’s dividend payout ratio is presently 42.33%.
In related news, Director John Anthony Lederer purchased 20,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was acquired at an average price of $67.00 per share, with a total value of $1,340,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at $3,350,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William C. Foote sold 2,736 shares of the business’s 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 directly owns 16,415 shares of the company’s stock, valued at approximately $1,105,878.55. The disclosure for this sale can be found here. 14.80% of the stock is owned by insiders.
WBA has been the topic of several research reports. Deutsche Bank began coverage on shares of Walgreens Boots Alliance in a research report on Monday, December 4th. They issued a “hold” rating and a $78.00 price objective on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Wednesday, September 27th. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Leerink Swann downgraded shares of Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Finally, Loop Capital set a $90.00 target price on shares of Walgreens Boots Alliance and gave the stock a “buy” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $86.47.
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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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