State Board of Administration of Florida Retirement System Grows Stake in Walgreens Boots Alliance Inc (WBA)
State Board of Administration of Florida Retirement System lifted its stake in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,296,992 shares of the pharmacy operator’s stock after acquiring an additional 50,269 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Walgreens Boots Alliance worth $100,154,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBA. Hudock Capital Group LLC boosted its position in shares of Walgreens Boots Alliance by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 6 shares during the period. Modera Wealth Management LLC boosted its position in shares of Walgreens Boots Alliance by 0.4% in the first quarter. Modera Wealth Management LLC now owns 2,451 shares of the pharmacy operator’s stock worth $204,000 after buying an additional 9 shares during the period. Flagship Harbor Advisors LLC boosted its position in shares of Walgreens Boots Alliance by 0.5% in the first quarter. Flagship Harbor Advisors LLC now owns 3,027 shares of the pharmacy operator’s stock worth $243,000 after buying an additional 16 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Walgreens Boots Alliance by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,301 shares of the pharmacy operator’s stock worth $274,000 after buying an additional 22 shares during the period. Finally, Northern Capital Management LLC boosted its position in shares of Walgreens Boots Alliance by 0.4% in the second quarter. Northern Capital Management LLC now owns 6,635 shares of the pharmacy operator’s stock worth $520,000 after buying an additional 25 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.
In related news, Director John Anthony Lederer bought 20,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were bought at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at $3,350,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William C. Foote sold 2,736 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total value of $184,324.32. Following the transaction, the director now owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by company insiders.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. The firm had revenue of $30.15 billion during the quarter, compared to analysts’ expectations of $29.93 billion. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. equities analysts forecast that Walgreens Boots Alliance Inc will post 5.54 EPS for the current year.
Walgreens Boots Alliance declared that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Monday, November 13th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. Walgreens Boots Alliance’s payout ratio is 42.33%.
Several analysts have recently commented on the company. UBS reaffirmed a “buy” rating and issued a $96.00 target price (down previously from $97.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, August 23rd. Royal Bank of Canada assumed coverage on Walgreens Boots Alliance in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $96.00 target price for the company. Jefferies Group reaffirmed a “buy” rating and issued a $95.00 target price on shares of Walgreens Boots Alliance in a research report on Monday, October 2nd. Raymond James Financial reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Wednesday, September 27th. Finally, Vetr cut Walgreens Boots Alliance from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $86.47.
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Walgreens Boots Alliance 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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