Bowen Hanes & Co. Inc. increased its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 374,786 shares of the pharmacy operator’s stock after purchasing an additional 34,299 shares during the period. Walgreens Boots Alliance makes up 1.4% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 26th biggest holding. Bowen Hanes & Co. Inc.’s holdings in Walgreens Boots Alliance were worth $29,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Reilly Financial Advisors LLC grew its position in Walgreens Boots Alliance by 7.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock valued at $107,000 after acquiring an additional 100 shares during the last quarter. Tarbox Group Inc. grew 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 valued at $113,000 after acquiring an additional 1,006 shares during the last quarter. Webster Bank N. A. grew 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 valued at $125,000 after acquiring an additional 235 shares during the last quarter. Orrstown Financial Services Inc. grew its position in Walgreens Boots Alliance by 14.1% in the second quarter. Orrstown Financial Services Inc. now owns 1,728 shares of the pharmacy operator’s stock valued at $135,000 after acquiring an additional 213 shares during the last quarter. Finally, MCF Advisors LLC grew its position 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 valued at $160,000 after acquiring an additional 780 shares during the last quarter. Institutional investors own 60.16% of the company’s stock.

A number of research analysts have issued reports on the company. Needham & Company LLC set a $94.00 target price on Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Monday, July 17th. Pivotal Research set a $85.00 target price on Walgreens Boots Alliance and gave the company a “hold” rating in a research report on Sunday, July 2nd. Guggenheim reiterated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Wednesday. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $92.06.

In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $79.79, for a total transaction of $218,305.44. Following the completion of the sale, the director now directly owns 19,151 shares in the company, valued at approximately $1,528,058.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.50% of the company’s stock.

Walgreens Boots Alliance, Inc. (NASDAQ WBA) opened at 77.22 on Friday. The company has a 50 day moving average price of $81.36 and a 200-day moving average price of $81.86. The firm has a market capitalization of $82.63 billion, a price-to-earnings ratio of 19.50 and a beta of 1.26. Walgreens Boots Alliance, Inc. has a 1-year low of $75.18 and a 1-year high of $89.69.

Walgreens Boots Alliance (NASDAQ:WBA) last issued 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. The company had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Walgreens Boots Alliance had a return on equity of 17.34% and a net margin of 3.69%. Walgreens Boots Alliance’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. On average, analysts forecast that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current fiscal year.

Walgreens Boots Alliance announced that its board has authorized a stock repurchase program on Thursday, June 29th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the pharmacy operator to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 2.07%. Walgreens Boots Alliance’s dividend payout ratio is currently 40.30%.

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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).

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

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