NuWave Investment Management LLC Takes $221,000 Position in Walgreens Boots Alliance Inc (WBA)
NuWave Investment Management LLC purchased a new stake in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) during the 4th quarter, HoldingsChannel reports. The fund purchased 3,044 shares of the pharmacy operator’s stock, valued at approximately $221,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hudock Capital Group LLC boosted its stake in 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 valued at $102,000 after acquiring an additional 6 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Walgreens Boots Alliance by 10.4% in the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock valued at $102,000 after acquiring an additional 125 shares during the last quarter. Zions Bancorporation boosted its stake in Walgreens Boots Alliance by 983.3% in the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,239 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Walgreens Boots Alliance by 46.3% in the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock valued at $135,000 after acquiring an additional 2,199 shares during the last quarter. Finally, Bristlecone Advisors LLC bought a new position in Walgreens Boots Alliance in the third quarter valued at approximately $135,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Stefano Pessina acquired 98,858 shares of the company’s stock in a transaction that occurred on Monday, January 15th. The shares were acquired at an average cost of $76.07 per share, for a total transaction of $7,520,128.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.80% of the company’s stock.
Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, January 4th. The pharmacy operator reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $30.74 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. research analysts anticipate that Walgreens Boots Alliance Inc will post 5.71 EPS for the current year.
Walgreens Boots Alliance announced that its Board of Directors has approved a share 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 purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Thursday, February 15th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.34%. Walgreens Boots Alliance’s payout ratio is 44.20%.
A number of equities analysts have issued reports on WBA shares. Deutsche Bank started coverage on shares of Walgreens Boots Alliance in a research note on Monday, December 4th. They issued a “hold” rating and a $78.00 price objective on the stock. Leerink Swann cut shares of Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Wednesday. Loop Capital set a $90.00 price objective on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Pivotal Research reduced 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 research report on Tuesday, October 24th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Walgreens Boots Alliance has an average rating of “Buy” and a consensus price target of $85.05.
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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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