Pinebridge Investments L.P. lifted its position in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 692.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,636 shares of the pharmacy operator’s stock after buying an additional 152,596 shares during the quarter. Pinebridge Investments L.P.’s holdings in Walgreens Boots Alliance were worth $13,485,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in Walgreens Boots Alliance by 24.7% in the second quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock valued at $1,448,939,000 after purchasing an additional 3,662,302 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Walgreens Boots Alliance by 471.4% in the second 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 period. Vanguard Group Inc. grew its holdings in Walgreens Boots Alliance by 2.8% in the second 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 period. Glenview Capital Management LLC purchased a new stake in Walgreens Boots Alliance in the second quarter valued at approximately $136,875,000. Finally, Harding Loevner LP grew its holdings in Walgreens Boots Alliance by 85.3% in the third 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 period. Institutional investors and hedge funds own 61.15% of the company’s stock.
A number of equities research analysts recently issued reports on WBA shares. Deutsche Bank started coverage on shares of Walgreens Boots Alliance in a report on Monday, December 4th. They issued a “hold” rating and a $78.00 target price for the company. Raymond James Financial restated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Wednesday, September 27th. Leerink Swann cut shares of Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Sunday. Finally, Loop Capital set a $90.00 price target on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Thursday, October 26th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $86.35.
Shares of Walgreens Boots Alliance Inc (NASDAQ WBA) opened at $77.40 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock has a market cap of $76,650.00, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.29 and a beta of 1.22. Walgreens Boots Alliance Inc has a 12 month low of $63.82 and a 12 month high of $88.00.
Walgreens Boots Alliance (NASDAQ:WBA) last issued 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. The business had revenue of $30.74 billion during the quarter, compared to analyst estimates of $30.39 billion. Walgreens Boots Alliance had a net margin of 3.19% and a return on equity of 19.15%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. analysts expect that Walgreens Boots Alliance Inc will post 5.71 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Thursday, February 15th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 44.20%.
Walgreens Boots Alliance announced that its board has authorized 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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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