Walgreens Boots Alliance, Inc. (WBA) Position Reduced by South State Corp

South State Corp decreased its position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,641 shares of the pharmacy operator’s stock after selling 331 shares during the period. South State Corp’s holdings in Walgreens Boots Alliance were worth $967,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hudock Capital Group LLC increased 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 worth $108,000 after buying an additional 5 shares in the last quarter. Tarbox Group Inc. increased its position in shares of Walgreens Boots Alliance by 288.3% in the first quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock worth $113,000 after buying an additional 1,006 shares during the period. Howe & Rusling Inc. increased its position in shares of Walgreens Boots Alliance by 209.2% in the first quarter. Howe & Rusling Inc. now owns 1,441 shares of the pharmacy operator’s stock worth $120,000 after buying an additional 975 shares during the period. Webster Bank N. A. increased its position in shares of 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 worth $125,000 after buying an additional 235 shares during the period. Finally, Orrstown Financial Services Inc. increased its position in shares of Walgreens Boots Alliance by 13.9% in the first quarter. Orrstown Financial Services Inc. now owns 1,515 shares of the pharmacy operator’s stock worth $126,000 after buying an additional 185 shares during the period. 61.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Walgreens Boots Alliance, Inc. (NASDAQ WBA) traded down 1.06% on Friday, reaching $80.03. 5,239,292 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $79.60 and a 200 day moving average price of $82.28. The firm has a market cap of $85.64 billion, a PE ratio of 20.21 and a beta of 1.25. Walgreens Boots Alliance, Inc. has a one year low of $75.18 and a one year high of $89.69.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share 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 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 company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS. Analysts expect that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current fiscal year.

Walgreens Boots Alliance announced that its Board of Directors has authorized a stock buyback program on Thursday, June 29th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the pharmacy operator to purchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders 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 represents a $1.60 annualized dividend and a dividend yield of 2.00%. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. Walgreens Boots Alliance’s payout ratio is currently 40.30%.

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A number of brokerages recently weighed in on WBA. BidaskClub raised shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. Needham & Company LLC set a $94.00 price target on shares of Walgreens Boots Alliance and gave the stock a “buy” rating in a report on Monday, July 17th. Credit Suisse Group reissued a “buy” rating and issued a $97.00 price target on shares of Walgreens Boots Alliance in a report on Thursday, July 13th. Leerink Swann set a $86.00 price objective on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a report on Friday, July 7th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. Walgreens Boots Alliance presently 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 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 of the company’s stock, valued at approximately $1,528,058.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.50% of the company’s stock.

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).

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

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