Legacy Capital Partners Inc. cut its holdings in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 39.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,276 shares of the pharmacy operator’s stock after selling 3,477 shares during the quarter. Legacy Capital Partners Inc.’s holdings in Walgreens Boots Alliance were worth $383,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Hudock Capital Group LLC raised its stake in shares of 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 worth $102,000 after purchasing an additional 6 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of 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 worth $102,000 after purchasing an additional 125 shares during the last quarter. Zions Bancorporation raised its position in Walgreens Boots Alliance by 983.3% during the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,239 shares in the last quarter. IHT Wealth Management LLC raised its position in Walgreens Boots Alliance by 46.3% during the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock valued at $135,000 after acquiring an additional 2,199 shares in the last quarter. Finally, Bristlecone Advisors LLC purchased a new position in Walgreens Boots Alliance during the third quarter valued at approximately $135,000. Institutional investors own 61.57% of the company’s stock.
Shares of Walgreens Boots Alliance Inc (WBA) opened at $68.49 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.47. Walgreens Boots Alliance Inc has a 1-year low of $63.82 and a 1-year high of $88.00. The company has a market capitalization of $67,850.00, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Thursday, February 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, February 14th. Walgreens Boots Alliance’s payout ratio is currently 44.20%.
Walgreens Boots Alliance announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the pharmacy operator to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages recently weighed in on WBA. Needham & Company LLC reiterated a “buy” rating and set a $88.00 price target (up from $86.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, January 10th. BidaskClub upgraded Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Wednesday. Loop Capital set a $90.00 price target on Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, ValuEngine cut Walgreens Boots Alliance from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $85.05.
In other Walgreens Boots Alliance news, insider Stefano Pessina acquired 98,858 shares of the company’s stock in a transaction on Monday, January 15th. The shares were bought at an average cost of $76.07 per share, with a total value of $7,520,128.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.80% of the stock is currently owned by company insiders.
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Walgreens Boots Alliance Company 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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