Fifth Third Bancorp Buys 25,620 Shares of Walgreens Boots Alliance, Inc. (WBA)
Fifth Third Bancorp lifted its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 803,859 shares of the pharmacy operator’s stock after acquiring an additional 25,620 shares during the period. Fifth Third Bancorp’s holdings in Walgreens Boots Alliance were worth $66,760,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hudock Capital Group LLC increased its position in Walgreens Boots Alliance by 0.4% during the 1st 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 in the last quarter. Tarbox Group Inc. increased its position in Walgreens Boots Alliance by 288.3% during the 1st 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 in the last quarter. Webster Bank N. A. increased its position in Walgreens Boots Alliance by 18.4% during the 1st 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 in the last quarter. MCF Advisors LLC increased its position in Walgreens Boots Alliance by 68.2% during the 1st quarter. MCF Advisors LLC now owns 1,923 shares of the pharmacy operator’s stock valued at $160,000 after buying an additional 780 shares in the last quarter. Finally, Founders Capital Management acquired a new position in Walgreens Boots Alliance during the 1st quarter valued at about $161,000. 60.18% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. BidaskClub raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Loop Capital assumed coverage on Walgreens Boots Alliance in a research report on Thursday, August 24th. They set a “buy” rating and a $95.00 target price on the stock. UBS AG reaffirmed a “buy” rating and set a $96.00 target price (down from $97.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, August 23rd. Needham & Company LLC set a $94.00 target price on Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $97.00 target price on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $90.88.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ WBA) traded up 0.45% during mid-day trading on Wednesday, hitting $81.83. The stock had a trading volume of 1,880,331 shares. The firm has a 50 day moving average price of $80.61 and a 200 day moving average price of $82.16. Walgreens Boots Alliance, Inc. has a 52-week low of $75.18 and a 52-week high of $88.00. The firm has a market cap of $87.57 billion, a PE ratio of 20.66 and a beta of 1.26.
Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. The firm had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $29.72 billion. Walgreens Boots Alliance had a return on equity of 17.34% and a net margin of 3.69%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Equities analysts predict that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, August 16th. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. Walgreens Boots Alliance’s payout ratio is 40.30%.
Walgreens Boots Alliance declared that its Board of Directors has initiated a stock buyback plan on Thursday, June 29th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the pharmacy operator to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In related 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 value of $218,305.44. Following the transaction, the director now owns 19,151 shares in the company, valued at approximately $1,528,058.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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