Griffin Asset Management Inc. purchased a new stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 85,942 shares of the pharmacy operator’s stock, valued at approximately $6,730,000. Walgreens Boots Alliance comprises about 1.8% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 15th biggest position.
Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Walgreens Boots Alliance by 2.8% in the second quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock valued at $5,480,577,000 after purchasing an additional 1,926,108 shares during the last quarter. State Street Corp increased its holdings in shares of Walgreens Boots Alliance by 1.8% in the first quarter. State Street Corp now owns 37,612,843 shares of the pharmacy operator’s stock valued at $3,123,757,000 after purchasing an additional 677,743 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Walgreens Boots Alliance by 5.9% in the first quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock valued at $2,727,932,000 after purchasing an additional 1,824,300 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Walgreens Boots Alliance by 24.7% in the second quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock valued at $1,448,939,000 after purchasing an additional 3,662,302 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Walgreens Boots Alliance by 10.2% in the second quarter. Nordea Investment Management AB now owns 10,085,836 shares of the pharmacy operator’s stock valued at $789,822,000 after purchasing an additional 931,508 shares during the last quarter. 60.24% of the stock is owned by hedge funds and other institutional investors.
WBA has been the subject of several recent analyst reports. Morgan Stanley cut Walgreens Boots Alliance from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $95.00 to $85.00 in a research note on Friday, October 6th. BidaskClub raised Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research note on Friday, November 10th. Robert W. Baird reissued an “outperform” rating and set a $80.00 target price (down previously from $90.00) on shares of Walgreens Boots Alliance in a research note on Thursday, October 19th. They noted that the move was a valuation call. Citigroup cut their target price on Walgreens Boots Alliance from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, Zacks Investment Research cut Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $86.47.
Walgreens Boots Alliance Inc (WBA) opened at $70.18 on Wednesday. Walgreens Boots Alliance Inc has a 52-week low of $63.82 and a 52-week high of $88.00. The company has a market capitalization of $70,879.76, a price-to-earnings ratio of 14.03, a PEG ratio of 1.27 and a beta of 1.22. 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 (NASDAQ:WBA) last released its quarterly earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 EPS for the quarter, topping the 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 business had revenue of $30.15 billion during the quarter, compared to analyst estimates of $29.93 billion. During the same period last year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. equities research analysts predict that Walgreens Boots Alliance Inc will post 5.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 13th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. Walgreens Boots Alliance’s dividend payout ratio is currently 42.33%.
Walgreens Boots Alliance declared that its board has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Walgreens Boots Alliance 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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