Walgreens Boots Alliance Inc (WBA) Stake Lowered by Orrstown Financial Services Inc.
Orrstown Financial Services Inc. reduced its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 32.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,487 shares of the pharmacy operator’s stock after selling 701 shares during the period. Orrstown Financial Services Inc.’s holdings in Walgreens Boots Alliance were worth $108,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WBA. Hudock Capital Group LLC increased its holdings in Walgreens Boots Alliance by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock valued at $102,000 after acquiring an additional 6 shares during the last quarter. Westside Investment Management Inc. increased its holdings in Walgreens Boots Alliance by 10.4% in the 2nd quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock valued at $102,000 after acquiring an additional 125 shares during the last quarter. Zions Bancorporation increased its holdings in Walgreens Boots Alliance by 983.3% in the 3rd quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,239 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Walgreens Boots Alliance by 46.3% in the 2nd quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock worth $135,000 after buying an additional 2,199 shares in the last quarter. Finally, Bristlecone Advisors LLC purchased a new position in shares of Walgreens Boots Alliance in the 3rd quarter worth $135,000. Institutional investors own 61.20% of the company’s stock.
A number of brokerages have commented on WBA. Raymond James Financial reissued a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Wednesday, September 27th. Jefferies Group reissued a “buy” rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a research note on Monday, October 2nd. Morgan Stanley cut shares of Walgreens Boots Alliance from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $95.00 to $85.00 in a research note on Friday, October 6th. BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Saturday, January 13th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Walgreens Boots Alliance presently has an average rating of “Buy” and an average price target of $86.20.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Walgreens Boots Alliance had a net margin of 3.19% and a return on equity of 19.15%. The firm had revenue of $30.74 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the previous year, the company earned $1.10 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. analysts predict that Walgreens Boots Alliance Inc will post 5.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Thursday, February 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. Walgreens Boots Alliance’s dividend payout ratio is presently 44.20%.
Walgreens Boots Alliance announced that its board has initiated a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Stefano Pessina acquired 98,858 shares of the stock in a transaction on Monday, January 15th. The stock was bought at an average cost of $76.07 per share, with a total value of $7,520,128.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 16,415 shares of the company’s stock, valued at $1,105,878.55. The disclosure for this sale can be found here. 14.80% 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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