Seven Bridges Advisors LLC Boosts Position in Walgreens Boots Alliance, Inc. (WBA)
Seven Bridges Advisors LLC raised its position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 25.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,781 shares of the pharmacy operator’s stock after acquiring an additional 3,603 shares during the quarter. Walgreens Boots Alliance makes up 1.2% of Seven Bridges Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Seven Bridges Advisors LLC’s holdings in Walgreens Boots Alliance were worth $1,392,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of WBA. Reilly Financial Advisors LLC grew its position in shares of Walgreens Boots Alliance by 7.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock valued at $107,000 after acquiring an additional 100 shares during the period. Tarbox Group Inc. increased its stake in shares of Walgreens Boots Alliance by 288.3% in the 1st quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock worth $113,000 after purchasing an additional 1,006 shares in the last quarter. Webster Bank N. A. increased its stake in shares of Walgreens Boots Alliance by 18.4% in the 1st quarter. Webster Bank N. A. now owns 1,509 shares of the pharmacy operator’s stock worth $125,000 after purchasing an additional 235 shares in the last quarter. Orrstown Financial Services Inc. increased its stake in shares of Walgreens Boots Alliance by 14.1% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,728 shares of the pharmacy operator’s stock worth $135,000 after purchasing an additional 213 shares in the last quarter. Finally, MCF Advisors LLC increased its stake in shares of Walgreens Boots Alliance by 68.2% in the 1st quarter. MCF Advisors LLC now owns 1,923 shares of the pharmacy operator’s stock worth $160,000 after purchasing an additional 780 shares in the last quarter. 60.16% of the stock is currently owned by institutional investors.
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Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) opened at 76.60 on Tuesday. The firm has a 50-day moving average price of $80.63 and a 200-day moving average price of $81.37. Walgreens Boots Alliance, Inc. has a 1-year low of $75.18 and a 1-year high of $89.69. The company has a market cap of $81.97 billion, a P/E ratio of 19.34 and a beta of 1.25.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 16th. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. Walgreens Boots Alliance’s payout ratio is presently 40.30%.
Walgreens Boots Alliance announced that its board has approved a share repurchase program on Thursday, June 29th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the pharmacy operator to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total transaction of $218,305.44. Following the completion of the transaction, the director now directly owns 19,151 shares in the company, valued at $1,528,058.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.50% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the company. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Tuesday. Credit Suisse Group reissued a “buy” rating and set a $97.00 price target on shares of Walgreens Boots Alliance in a report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a report on Monday. UBS AG reissued a “buy” rating and set a $96.00 price target (down previously from $97.00) on shares of Walgreens Boots Alliance in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada started coverage on Walgreens Boots Alliance in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $96.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $92.06.
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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