Bank of Nova Scotia increased its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 664.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,185 shares of the pharmacy operator’s stock after buying an additional 171,377 shares during the period. Bank of Nova Scotia’s holdings in Walgreens Boots Alliance were worth $16,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Farmers National Bank increased its position in Walgreens Boots Alliance by 0.3% in the first quarter. Farmers National Bank now owns 33,514 shares of the pharmacy operator’s stock valued at $2,702,000 after buying an additional 100 shares during the last quarter. Aristotle Capital Management LLC increased its position in Walgreens Boots Alliance by 3.0% in the first quarter. Aristotle Capital Management LLC now owns 3,574,786 shares of the pharmacy operator’s stock valued at $296,886,000 after buying an additional 103,094 shares during the last quarter. Meridian Wealth Management LLC increased its position in Walgreens Boots Alliance by 1.4% in the first quarter. Meridian Wealth Management LLC now owns 3,550 shares of the pharmacy operator’s stock valued at $295,000 after buying an additional 50 shares during the last quarter. Green Square Capital LLC increased its position in Walgreens Boots Alliance by 19.8% in the first quarter. Green Square Capital LLC now owns 28,767 shares of the pharmacy operator’s stock valued at $2,389,000 after buying an additional 4,762 shares during the last quarter. Finally, First Financial Equity Corporation acquired a new position in Walgreens Boots Alliance during the first quarter valued at $386,000. Institutional investors own 61.16% of the company’s stock.

Walgreens Boots Alliance, Inc. (NASDAQ WBA) traded up 1.13% during trading on Monday, reaching $81.63. 1,050,867 shares of the company traded hands. The company has a market capitalization of $87.35 billion, a P/E ratio of 20.61 and a beta of 1.25. The firm has a 50-day moving average price of $79.08 and a 200-day moving average price of $82.30. Walgreens Boots Alliance, Inc. has a 52 week low of $75.18 and a 52 week high of $88.00.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.03. The company had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. Analysts forecast that Walgreens Boots Alliance, Inc. will post $5.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. Walgreens Boots Alliance’s dividend payout ratio is currently 37.78%.

Walgreens Boots Alliance announced that its Board of Directors has approved a share buyback plan on Thursday, June 29th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the pharmacy operator to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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Several research analysts have weighed in on WBA shares. Needham & Company LLC upgraded shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Friday, June 30th. Pivotal Research set a $85.00 price target on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a research report on Sunday, July 2nd. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $77.00 price target (down from $89.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, June 28th. Finally, Jefferies Group LLC decreased their price target on shares of Walgreens Boots Alliance from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $90.69.

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. Corporate insiders own 13.50% of the company’s stock.

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

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