Investors Buy Shares of Walgreens Boots Alliance (WBA) on Weakness

Traders purchased shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) on weakness during trading on Thursday. $147.20 million flowed into the stock on the tick-up and $59.34 million flowed out of the stock on the tick-down, for a money net flow of $87.86 million into the stock. Of all companies tracked, Walgreens Boots Alliance had the 3rd highest net in-flow for the day. Walgreens Boots Alliance traded down ($1.44) for the day and closed at $69.61

A number of analysts recently issued reports on the company. Needham & Company LLC lowered their price target on Walgreens Boots Alliance to $86.00 and set a “buy” rating for the company in a report on Wednesday, November 22nd. Jefferies Group set a $93.00 target price on Walgreens Boots Alliance and gave the stock a “buy” rating in a report on Sunday, October 29th. Vetr lowered Walgreens Boots Alliance from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub upgraded Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $86.47.

The stock has a market capitalization of $69,230.00, a PE ratio of 13.76, a PEG ratio of 1.25 and a beta of 1.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.59.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. The business had revenue of $30.15 billion for the quarter, compared to the consensus estimate of $29.93 billion. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. sell-side analysts forecast that Walgreens Boots Alliance Inc will post 5.55 EPS for the current fiscal year.

The firm 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, November 10th. Walgreens Boots Alliance’s payout ratio is presently 42.33%.

Walgreens Boots Alliance declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the pharmacy operator to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, Director John Anthony Lederer bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were purchased at an average cost of $67.00 per share, with a total value of $1,340,000.00. Following the transaction, 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 accessible through this link. Also, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were 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 directly owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. Corporate insiders own 14.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBA. Hudock Capital Group LLC boosted its holdings in Walgreens Boots Alliance by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock valued at $102,000 after purchasing an additional 6 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Walgreens Boots Alliance by 10.4% in the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock valued at $102,000 after purchasing an additional 125 shares during the last quarter. Zions Bancorporation boosted its holdings in Walgreens Boots Alliance by 983.3% in the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,239 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Walgreens Boots Alliance by 46.3% in the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock valued at $135,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Bristlecone Advisors LLC purchased a new stake in Walgreens Boots Alliance in the third quarter valued at $135,000. 60.24% of the stock is currently owned by hedge funds and other institutional investors.

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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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