Bellevue Group AG Buys New Position in Walgreens Boots Alliance, Inc. (WBA)
Bellevue Group AG bought a new position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 160,409 shares of the pharmacy operator’s stock, valued at approximately $13,322,000. Walgreens Boots Alliance comprises about 1.8% of Bellevue Group AG’s portfolio, making the stock its 18th largest position.
Several other institutional investors also recently modified their holdings of the company. Hudock Capital Group LLC raised its stake in 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 worth $108,000 after buying an additional 5 shares during the period. Tarbox Group Inc. raised its stake 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 during the period. Webster Bank N. A. raised its stake 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 during the period. MCF Advisors LLC raised its stake in Walgreens Boots Alliance by 68.2% in the first quarter. MCF Advisors LLC now owns 1,923 shares of the pharmacy operator’s stock worth $160,000 after buying an additional 780 shares during the period. Finally, Founders Capital Management acquired a new stake in Walgreens Boots Alliance during the first quarter worth approximately $161,000. 60.17% of the stock is owned by institutional investors and hedge funds.
Walgreens Boots Alliance, Inc. (WBA) traded down 0.34% during mid-day trading on Friday, hitting $81.22. The company’s stock had a trading volume of 5,335,530 shares. Walgreens Boots Alliance, Inc. has a 52-week low of $75.18 and a 52-week high of $89.69. The firm has a market cap of $86.91 billion, a price-to-earnings ratio of 20.51 and a beta of 1.26. The firm has a 50 day moving average of $80.50 and a 200-day moving average of $82.24.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings data 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 firm had revenue of $30.12 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current fiscal year.
Walgreens Boots Alliance declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 29th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. Walgreens Boots Alliance’s dividend payout ratio is currently 40.30%.
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A number of research firms recently commented on WBA. Needham & Company LLC began coverage on Walgreens Boots Alliance in a research report on Tuesday, June 27th. They set a “hold” rating on the stock. BidaskClub lowered Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Leerink Swann set a $86.00 price target on Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Friday, July 7th. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Finally, Pivotal Research set a $85.00 price objective on Walgreens Boots Alliance and gave the company a “hold” rating in a research report on Sunday, July 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.88.
In other news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total transaction of $218,305.44. Following the transaction, the director now owns 19,151 shares in the company, valued at $1,528,058.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.50% of the stock is currently owned by corporate insiders.
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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