Cambridge Trust Co. Raises Position in Walgreens Boots Alliance Inc (WBA)
Cambridge Trust Co. raised its holdings in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 14.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,904 shares of the pharmacy operator’s stock after buying an additional 1,000 shares during the period. Cambridge Trust Co.’s holdings in Walgreens Boots Alliance were worth $610,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of WBA. Cornerstone Capital Management Holdings LLC. boosted its stake in Walgreens Boots Alliance by 30.0% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 288,216 shares of the pharmacy operator’s stock worth $23,935,000 after purchasing an additional 66,580 shares during the period. Venturi Wealth Management LLC boosted its stake in Walgreens Boots Alliance by 8.5% in the 1st quarter. Venturi Wealth Management LLC now owns 37,860 shares of the pharmacy operator’s stock worth $3,136,000 after purchasing an additional 2,950 shares during the period. Tredje AP fonden boosted its stake in Walgreens Boots Alliance by 5.1% in the 1st quarter. Tredje AP fonden now owns 86,351 shares of the pharmacy operator’s stock worth $7,171,000 after purchasing an additional 4,187 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in Walgreens Boots Alliance by 4.6% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 11,460 shares of the pharmacy operator’s stock worth $952,000 after purchasing an additional 500 shares during the period. Finally, Gould Asset Management LLC CA acquired a new position in Walgreens Boots Alliance in the 1st quarter worth approximately $218,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.
In other news, Director John Anthony Lederer bought 20,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $3,350,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Foote sold 2,736 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total transaction of $184,324.32. Following the completion of the transaction, the director now owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. Company insiders own 14.80% of the company’s stock.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. Walgreens Boots Alliance had a net margin of 3.45% and a return on equity of 18.36%. The business had revenue of $30.15 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same period last year, the business posted $1.07 EPS. Walgreens Boots Alliance’s revenue was up 5.3% compared to the same quarter last year. sell-side analysts forecast that Walgreens Boots Alliance Inc will post 5.54 earnings per share for the current fiscal year.
Walgreens Boots Alliance declared that its board has initiated a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the pharmacy operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Monday, November 13th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. Walgreens Boots Alliance’s payout ratio is presently 42.33%.
A number of research firms have issued reports on WBA. Needham & Company LLC cut their target price on shares of Walgreens Boots Alliance to $86.00 and set a “buy” rating for the company in a research report on Wednesday, November 22nd. Jefferies Group set a $93.00 target price on shares of Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Sunday, October 29th. Vetr upgraded shares of Walgreens Boots Alliance from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 12th. BidaskClub upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.47.
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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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