McAdam LLC purchased a new position in Walgreens Boots Alliance Inc (NASDAQ:WBA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,073 shares of the pharmacy operator’s stock, valued at approximately $319,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia grew its stake in Walgreens Boots Alliance by 139.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 46,167 shares of the pharmacy operator’s stock worth $3,614,000 after buying an additional 26,893 shares during the last quarter. IBM Retirement Fund grew its stake in Walgreens Boots Alliance by 88.1% during the 2nd 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 last quarter. Andra AP fonden grew its stake in Walgreens Boots Alliance by 35.3% during the 2nd 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 last quarter. Schwab Charles Investment Management Inc. grew its stake in Walgreens Boots Alliance by 5.4% during the 2nd 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 last quarter. Finally, Birinyi Associates Inc. grew its stake in Walgreens Boots Alliance by 9.0% during the 2nd 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 last quarter. 60.24% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total value of $184,324.32. Following the completion of the transaction, the director now owns 16,415 shares of the company’s stock, valued at approximately $1,105,878.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Anthony Lederer purchased 20,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average cost of $67.00 per share, with a total value of $1,340,000.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $3,350,000. The disclosure for this purchase can be found here. Corporate insiders own 14.80% of the company’s stock.
WBA has been the topic of several research analyst reports. Deutsche Bank initiated coverage on Walgreens Boots Alliance in a research note on Monday. They set a “hold” rating and a $78.00 price target 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 Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Leerink Swann downgraded 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 price target on Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. Walgreens Boots Alliance has an average rating of “Buy” and a consensus target price of $86.47.
Walgreens Boots Alliance Inc (NASDAQ:WBA) opened at $70.18 on Wednesday. The firm has a market capitalization of $70,760.91, a PE ratio of 14.01, a P/E/G ratio of 1.27 and a beta of 1.22. 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 quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 0.45.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. The company had revenue of $30.15 billion during the quarter, compared to analysts’ expectations of $29.93 billion. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. Walgreens Boots Alliance’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. analysts forecast that Walgreens Boots Alliance Inc will post 5.55 earnings per share for the current fiscal year.
Walgreens Boots Alliance declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the pharmacy operator to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 13th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.28%. Walgreens Boots Alliance’s payout ratio is 42.33%.
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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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