Walgreens Boots Alliance, Inc. (WBA) Sets New 12-Month Low at $73.52
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) hit a new 52-week low on Friday . The company traded as low as $73.52 and last traded at $73.29, with a volume of 6,235,593 shares trading hands. The stock had previously closed at $76.95.
A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada assumed coverage on Walgreens Boots Alliance in a research report on Tuesday, September 19th. They set an “outperform” rating and a $96.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $94.00 price target on shares of Walgreens Boots Alliance in a report on Saturday, September 16th. BidaskClub downgraded Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Jefferies Group LLC reissued a “buy” rating and issued a $95.00 price target on shares of Walgreens Boots Alliance in a report on Thursday, September 7th. Finally, UBS AG reissued a “buy” rating and issued a $96.00 price target (down previously from $97.00) on shares of Walgreens Boots Alliance in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Walgreens Boots Alliance presently has a consensus rating of “Buy” and an average target price of $91.31.
The company’s 50 day moving average price is $80.22 and its 200-day moving average price is $81.23. The firm has a market capitalization of $78.33 billion, a price-to-earnings ratio of 18.48 and a beta of 1.25.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, August 16th. Walgreens Boots Alliance’s dividend payout ratio is 40.30%.
Walgreens Boots Alliance declared that its Board of Directors has initiated a share repurchase program on Thursday, June 29th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the pharmacy operator to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on 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 transaction, 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 13.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBA. Franklin Resources Inc. increased its stake in Walgreens Boots Alliance by 24.7% in the 2nd quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock valued at $1,448,939,000 after purchasing an additional 3,662,302 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Walgreens Boots Alliance by 471.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,295,583 shares of the pharmacy operator’s stock valued at $258,077,000 after purchasing an additional 2,718,800 shares in the last quarter. Vanguard Group Inc. increased its stake in Walgreens Boots Alliance by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock valued at $5,480,577,000 after purchasing an additional 1,926,108 shares in the last quarter. Nordea Investment Management AB increased its stake in Walgreens Boots Alliance by 26.5% in the 1st quarter. Nordea Investment Management AB now owns 9,154,328 shares of the pharmacy operator’s stock valued at $760,267,000 after purchasing an additional 1,917,082 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Walgreens Boots Alliance by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock valued at $2,727,932,000 after purchasing an additional 1,824,300 shares in the last quarter. 60.16% of the stock is owned by hedge funds and other institutional investors.
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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).
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