Lourd Capital LLC Trims Position in Walgreens Boots Alliance, Inc. (WBA)

Lourd Capital LLC decreased its holdings in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,479 shares of the pharmacy operator’s stock after selling 52 shares during the quarter. Lourd Capital LLC’s holdings in Walgreens Boots Alliance were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Palouse Capital Management Inc. raised its position in Walgreens Boots Alliance by 1.0% in the 2nd quarter. Palouse Capital Management Inc. now owns 37,457 shares of the pharmacy operator’s stock valued at $2,933,000 after purchasing an additional 375 shares during the last quarter. CIBC Asset Management Inc raised its position in Walgreens Boots Alliance by 2.8% in the 2nd quarter. CIBC Asset Management Inc now owns 136,740 shares of the pharmacy operator’s stock valued at $10,708,000 after purchasing an additional 3,708 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in Walgreens Boots Alliance by 18.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 744,021 shares of the pharmacy operator’s stock valued at $58,264,000 after purchasing an additional 116,232 shares during the last quarter. Rothschild Asset Management Inc. raised its position in Walgreens Boots Alliance by 17.8% in the 2nd quarter. Rothschild Asset Management Inc. now owns 7,013 shares of the pharmacy operator’s stock valued at $549,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its position in Walgreens Boots Alliance by 0.9% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 8,852 shares of the pharmacy operator’s stock valued at $693,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 60.16% of the company’s stock.

WBA has been the subject of several research reports. Jefferies Group LLC reduced their price target on shares of 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. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Needham & Company LLC initiated coverage on shares of Walgreens Boots Alliance in a research report on Tuesday, June 27th. They issued a “hold” rating for the company. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $77.00 price target (down previously from $89.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Walgreens Boots Alliance currently has a consensus rating of “Buy” and a consensus target price of $91.81.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) opened at 82.60 on Tuesday. Walgreens Boots Alliance, Inc. has a 1-year low of $75.18 and a 1-year high of $89.69. The stock’s 50 day moving average is $81.35 and its 200-day moving average is $81.89. The firm has a market capitalization of $88.39 billion, a PE ratio of 20.86 and a beta of 1.26.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The business had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current year.

Walgreens Boots Alliance announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 29th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to purchase up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 18th were paid a dividend of $0.40 per share. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 16th. Walgreens Boots Alliance’s payout ratio is currently 40.30%.

In related news, Director William C. Foote sold 2,736 shares of Walgreens Boots Alliance stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total transaction of $218,305.44. Following the sale, the director now directly owns 19,151 shares in the company, valued at $1,528,058.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 13.50% of the stock is owned by insiders.

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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).

Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

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