Envestnet Asset Management Inc. cut its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,587 shares of the pharmacy operator’s stock after selling 6,145 shares during the period. Envestnet Asset Management Inc.’s holdings in Walgreens Boots Alliance were worth $12,628,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. increased its position 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 acquiring an additional 3,662,302 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. Glenview Capital Management LLC bought a new position in shares of Walgreens Boots Alliance in the 2nd quarter valued at about $136,875,000. Finally, Harding Loevner LP boosted its stake in shares of Walgreens Boots Alliance by 85.3% in the 3rd quarter. Harding Loevner LP now owns 2,844,207 shares of the pharmacy operator’s stock valued at $115,725,000 after purchasing an additional 1,309,179 shares during the last quarter. Institutional investors own 61.20% of the company’s stock.
Several analysts have commented on WBA shares. Pivotal Research dropped their target price 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. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 price objective on shares of Walgreens Boots Alliance in a report on Thursday, October 12th. Deutsche Bank initiated coverage on shares of Walgreens Boots Alliance in a report on Monday, December 4th. They issued a “hold” rating and a $78.00 price objective on the stock. Vetr upgraded shares of Walgreens Boots Alliance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $88.00 price objective on shares of Walgreens Boots Alliance in a research report on Wednesday, October 25th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $86.20.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Walgreens Boots Alliance had a return on equity of 19.15% and a net margin of 3.19%. The firm had revenue of $30.74 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. sell-side analysts expect that Walgreens Boots Alliance Inc will post 5.7 earnings per share for the current fiscal year.
Walgreens Boots Alliance declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director William C. Foote sold 2,736 shares of Walgreens Boots Alliance stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total value of $184,324.32. Following the completion of the sale, the director now owns 16,415 shares of the company’s stock, valued at approximately $1,105,878.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Anthony Lederer bought 20,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was bought at an average price of $67.00 per share, with a total value of $1,340,000.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $3,350,000. The disclosure for this purchase can be found here. 14.80% of the stock is owned by company insiders.
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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