Schmidt P J Investment Management Inc. decreased its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 54,507 shares of the pharmacy operator’s stock after selling 1,880 shares during the period. Walgreens Boots Alliance makes up approximately 1.3% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 27th largest position. Schmidt P J Investment Management Inc.’s holdings in Walgreens Boots Alliance were worth $4,268,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC boosted its position in Walgreens Boots Alliance by 7.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock valued at $107,000 after buying an additional 100 shares during the last quarter. Hudock Capital Group LLC boosted its position in Walgreens Boots Alliance by 0.4% in the first quarter. Hudock Capital Group LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Tarbox Group Inc. boosted its position in Walgreens Boots Alliance by 288.3% in the first quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock valued at $113,000 after buying an additional 1,006 shares during the last quarter. Howe & Rusling Inc. boosted its position in Walgreens Boots Alliance by 209.2% in the first quarter. Howe & Rusling Inc. now owns 1,441 shares of the pharmacy operator’s stock valued at $120,000 after buying an additional 975 shares during the last quarter. Finally, Webster Bank N. A. boosted its position in Walgreens Boots Alliance by 18.4% in the first quarter. Webster Bank N. A. now owns 1,509 shares of the pharmacy operator’s stock valued at $125,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 61.17% of the company’s stock.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) traded down 0.94% during midday trading on Thursday, hitting $80.52. 1,741,044 shares of the stock traded hands. The firm’s 50 day moving average is $78.91 and its 200-day moving average is $82.32. Walgreens Boots Alliance, Inc. has a 12-month low of $75.18 and a 12-month high of $89.69. The stock has a market capitalization of $86.16 billion, a PE ratio of 20.33 and a beta of 1.25.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.40 per share. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.97%. Walgreens Boots Alliance’s payout ratio is presently 37.78%.

Walgreens Boots Alliance declared that its Board of Directors has approved a stock buyback program on Thursday, June 29th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the pharmacy operator to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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Several equities analysts recently commented 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 target price for the company in a research note on Friday, June 30th. Credit Suisse Group reiterated a “buy” rating and set a $97.00 target price on shares of Walgreens Boots Alliance in a research note on Thursday, July 13th. Leerink Swann set a $86.00 target price on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Friday, July 7th. Citigroup Inc. reiterated a “buy” rating on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. Finally, Guggenheim restated a “buy” rating on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company 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 business’s stock in a transaction dated Tuesday, July 25th. The stock was 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 owns 19,151 shares of the company’s stock, valued at $1,528,058.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.50% of the stock is currently owned by insiders.

About Walgreens Boots Alliance

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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