19,650 Shares in Walgreens Boots Alliance Inc (NASDAQ:WBA) Purchased by Torch Wealth Management LLC

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Torch Wealth Management LLC purchased a new position in Walgreens Boots Alliance Inc (NASDAQ:WBA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,650 shares of the pharmacy operator’s stock, valued at approximately $1,074,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its stake in shares of Walgreens Boots Alliance by 27.8% during the second quarter. NEXT Financial Group Inc now owns 2,663 shares of the pharmacy operator’s stock valued at $145,000 after purchasing an additional 580 shares in the last quarter. Roman Butler Fullerton & Co. increased its stake in shares of Walgreens Boots Alliance by 28.8% during the first quarter. Roman Butler Fullerton & Co. now owns 22,127 shares of the pharmacy operator’s stock valued at $1,400,000 after purchasing an additional 4,942 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Walgreens Boots Alliance by 131.6% during the second quarter. Cornerstone Advisors Inc. now owns 894 shares of the pharmacy operator’s stock valued at $49,000 after purchasing an additional 508 shares in the last quarter. Trust Investment Advisors increased its stake in shares of Walgreens Boots Alliance by 4.5% during the first quarter. Trust Investment Advisors now owns 9,260 shares of the pharmacy operator’s stock valued at $586,000 after purchasing an additional 400 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its stake in shares of Walgreens Boots Alliance by 1.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 140,794 shares of the pharmacy operator’s stock valued at $8,908,000 after purchasing an additional 1,372 shares in the last quarter. 61.97% of the stock is owned by institutional investors.

WBA stock traded down $1.11 on Thursday, hitting $49.30. The company had a trading volume of 3,871,919 shares, compared to its average volume of 4,389,901. Walgreens Boots Alliance Inc has a 12-month low of $49.31 and a 12-month high of $86.31. The company has a current ratio of 0.76, a quick ratio of 0.37 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $54.33. The company has a market capitalization of $46.96 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.81.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.05. Walgreens Boots Alliance had a net margin of 3.53% and a return on equity of 22.08%. The company had revenue of $34.59 billion for the quarter, compared to analysts’ expectations of $34.52 billion. During the same quarter last year, the company posted $1.53 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Analysts anticipate that Walgreens Boots Alliance Inc will post 5.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a $0.458 dividend. The ex-dividend date is Monday, August 19th. This represents a $1.83 annualized dividend and a yield of 3.72%. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. Walgreens Boots Alliance’s dividend payout ratio (DPR) is currently 29.24%.

WBA has been the subject of a number of analyst reports. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Guggenheim started coverage on shares of Walgreens Boots Alliance in a report on Thursday, April 18th. They set a “neutral” rating and a $59.00 price target on the stock. Morgan Stanley set a $61.00 price target on shares of Walgreens Boots Alliance and gave the company a “hold” rating in a report on Tuesday, May 14th. Bank of America cut their price target on shares of Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Finally, ValuEngine upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Friday, June 28th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.82.

Walgreens Boots Alliance Profile

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

Read More: Mutual funds are not immune from market timing

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

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