Walgreens Boots Alliance, Inc. (WBA) Position Lowered by Tiedemann Wealth Management LLC
Tiedemann Wealth Management LLC decreased its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,938 shares of the pharmacy operator’s stock after selling 931 shares during the period. Tiedemann Wealth Management LLC’s holdings in Walgreens Boots Alliance were worth $1,074,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Hudock Capital Group LLC raised its position in shares of Walgreens Boots Alliance by 0.4% in the first quarter. Hudock Capital Group LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Tarbox Group Inc. raised its position in Walgreens Boots Alliance by 288.3% in the first quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock worth $113,000 after buying an additional 1,006 shares in the last quarter. Howe & Rusling Inc. raised its position in Walgreens Boots Alliance by 209.2% in the first quarter. Howe & Rusling Inc. now owns 1,441 shares of the pharmacy operator’s stock worth $120,000 after buying an additional 975 shares in the last quarter. Webster Bank N. A. raised its position in Walgreens Boots Alliance by 18.4% in the first quarter. Webster Bank N. A. now owns 1,509 shares of the pharmacy operator’s stock worth $125,000 after buying an additional 235 shares in the last quarter. Finally, Orrstown Financial Services Inc. raised its position in Walgreens Boots Alliance by 13.9% in the first quarter. Orrstown Financial Services Inc. now owns 1,515 shares of the pharmacy operator’s stock worth $126,000 after buying an additional 185 shares in the last quarter. Institutional investors own 61.16% of the company’s stock.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) traded down 1.06% during mid-day trading on Friday, hitting $80.03. The stock had a trading volume of 5,239,292 shares. Walgreens Boots Alliance, Inc. has a 52-week low of $75.18 and a 52-week high of $89.69. The stock has a market cap of $85.64 billion, a P/E ratio of 20.21 and a beta of 1.25. The company’s 50 day moving average is $79.60 and its 200-day moving average is $82.28.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $30.12 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period in the previous year, the business posted $1.18 EPS. Walgreens Boots Alliance’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Walgreens Boots Alliance, Inc. will post $5.00 earnings per share for the current fiscal year.
Walgreens Boots Alliance announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 29th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the pharmacy operator to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 18th will be issued a $0.40 dividend. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, August 16th. Walgreens Boots Alliance’s dividend payout ratio is currently 40.30%.
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A number of brokerages recently commented on WBA. BidaskClub raised Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Needham & Company LLC set a $94.00 target price on Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Monday, July 17th. Credit Suisse Group reissued a “buy” rating and issued a $97.00 target price on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Leerink Swann set a $86.00 target price on Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Friday, July 7th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Walgreens Boots Alliance presently has an average rating of “Buy” and a consensus price target of $90.69.
In related news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,528,058.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.50% of the company’s stock.
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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