Gabelli Funds LLC Decreases Holdings in Walgreens Boots Alliance Inc (WBA)
Gabelli Funds LLC lowered its stake in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 383,700 shares of the pharmacy operator’s stock after selling 19,500 shares during the period. Gabelli Funds LLC’s holdings in Walgreens Boots Alliance were worth $27,864,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Hudock Capital Group LLC raised its holdings in shares of Walgreens Boots Alliance by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock valued at $102,000 after purchasing an additional 6 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Walgreens Boots Alliance by 10.4% during the 2nd quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock valued at $102,000 after purchasing an additional 125 shares in the last quarter. Zions Bancorporation raised its holdings in shares of Walgreens Boots Alliance by 983.3% during the 3rd quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,239 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of Walgreens Boots Alliance by 46.3% during the 2nd quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock valued at $135,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Bristlecone Advisors LLC bought a new position in shares of Walgreens Boots Alliance during the 3rd quarter valued at $135,000. 61.24% of the stock is owned by institutional investors.
In related news, insider Stefano Pessina acquired 98,858 shares of the company’s stock in a transaction dated Monday, January 15th. The shares were bought at an average price of $76.07 per share, for a total transaction of $7,520,128.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 14.80% of the company’s stock.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. Walgreens Boots Alliance had a net margin of 3.19% and a return on equity of 19.15%. The company had revenue of $30.74 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. analysts expect that Walgreens Boots Alliance Inc will post 5.71 earnings per share for the current fiscal year.
Walgreens Boots Alliance declared that its board has initiated a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. Walgreens Boots Alliance’s payout ratio is 44.20%.
A number of research analysts have recently weighed in on WBA shares. Needham & Company LLC restated a “buy” rating and set a $94.00 price target on shares of Walgreens Boots Alliance in a report on Thursday, October 12th. SunTrust Banks set a $72.00 price target on shares of Walgreens Boots Alliance and gave the company a “hold” rating in a report on Sunday, October 15th. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Robert W. Baird restated an “outperform” rating and set a $80.00 price target (down previously from $90.00) on shares of Walgreens Boots Alliance in a report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Pivotal Research cut their price target on shares of Walgreens Boots Alliance from $85.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, October 24th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Walgreens Boots Alliance has a consensus rating of “Buy” and a consensus price target of $85.53.
ILLEGAL ACTIVITY NOTICE: This report was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2018/02/07/gabelli-funds-llc-decreases-holdings-in-walgreens-boots-alliance-inc-wba.html.
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).
Want to see what other hedge funds are holding WBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walgreens Boots Alliance Inc (NASDAQ:WBA).
Receive News & Ratings for Walgreens Boots Alliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walgreens Boots Alliance and related companies with MarketBeat.com's FREE daily email newsletter.