Pinnacle Associates Ltd. Cuts Position in Walgreens Boots Alliance Inc (NASDAQ:WBA)

Pinnacle Associates Ltd. decreased its holdings in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 15.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,451 shares of the pharmacy operator’s stock after selling 2,440 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Walgreens Boots Alliance were worth $735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBA. The Manufacturers Life Insurance Company raised its holdings in Walgreens Boots Alliance by 263.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,306,439 shares of the pharmacy operator’s stock valued at $209,198,000 after buying an additional 2,396,640 shares during the period. Janus Henderson Group PLC raised its holdings in Walgreens Boots Alliance by 427.3% in the first quarter. Janus Henderson Group PLC now owns 1,732,966 shares of the pharmacy operator’s stock valued at $109,642,000 after buying an additional 1,404,322 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Walgreens Boots Alliance by 11.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,667,865 shares of the pharmacy operator’s stock valued at $674,956,000 after buying an additional 1,093,610 shares during the period. Geode Capital Management LLC raised its holdings in Walgreens Boots Alliance by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 11,529,136 shares of the pharmacy operator’s stock valued at $786,522,000 after buying an additional 834,241 shares during the period. Finally, First Trust Advisors LP raised its holdings in Walgreens Boots Alliance by 76.5% in the first quarter. First Trust Advisors LP now owns 1,460,684 shares of the pharmacy operator’s stock valued at $92,417,000 after buying an additional 632,919 shares during the period. Hedge funds and other institutional investors own 62.03% of the company’s stock.

WBA has been the topic of several research reports. Bank of America cut their price target on shares of Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. BidaskClub lowered shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Morgan Stanley cut their price target on shares of Walgreens Boots Alliance from $61.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday. ValuEngine upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Friday, June 28th. Finally, Zacks Investment Research lowered shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating and set a $53.00 price objective on the stock. in a research note on Monday, June 10th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Walgreens Boots Alliance has a consensus rating of “Hold” and an average price target of $63.65.

WBA stock opened at $49.32 on Friday. Walgreens Boots Alliance Inc has a twelve month low of $49.12 and a twelve month high of $86.31. The company has a current ratio of 0.76, a quick ratio of 0.37 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $45.97 billion, a P/E ratio of 8.19, a PEG ratio of 1.27 and a beta of 0.81. The firm has a 50 day simple moving average of $53.61 and a 200-day simple moving average of $57.04.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Walgreens Boots Alliance had a net margin of 3.53% and a return on equity of 22.08%. The business had revenue of $34.59 billion during the quarter, compared to the consensus estimate of $34.52 billion. During the same quarter last year, the company earned $1.53 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts predict that Walgreens Boots Alliance Inc will post 5.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.458 per share. The ex-dividend date is Monday, August 19th. This represents a $1.83 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 30.40%.

In other news, CAO Marco Patrick Anthony Pagni sold 215,323 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $50.48, for a total transaction of $10,869,505.04. Following the completion of the sale, the chief accounting officer now owns 357,851 shares of the company’s stock, valued at $18,064,318.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.73% of the stock is currently owned by company insiders.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

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

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