Checchi Capital Advisers LLC reduced its holdings in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,263 shares of the pharmacy operator’s stock after selling 465 shares during the period. Checchi Capital Advisers LLC’s holdings in Walgreens Boots Alliance were worth $569,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Reilly Financial Advisors LLC lifted its stake in Walgreens Boots Alliance by 7.9% in the 2nd quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock worth $107,000 after acquiring an additional 100 shares in the last quarter. Orrstown Financial Services Inc. increased its position in Walgreens Boots Alliance by 14.1% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,728 shares of the pharmacy operator’s stock worth $135,000 after purchasing an additional 213 shares during the last quarter. MCF Advisors LLC increased its position in Walgreens Boots Alliance by 68.2% in the 1st quarter. MCF Advisors LLC now owns 1,923 shares of the pharmacy operator’s stock worth $160,000 after purchasing an additional 780 shares during the last quarter. Founders Capital Management acquired a new position in Walgreens Boots Alliance in the 1st quarter worth about $161,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Walgreens Boots Alliance in the 1st quarter worth about $197,000. 60.16% of the stock is owned by hedge funds and other institutional investors.
WBA has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Wednesday, September 27th. BidaskClub raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Royal Bank Of Canada initiated coverage on Walgreens Boots Alliance in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $96.00 target price on the stock. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Walgreens Boots Alliance currently has a consensus rating of “Buy” and an average price target of $91.31.
In other news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction that occurred 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 $1,528,058.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.50% of the stock is currently owned by corporate insiders.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ WBA) opened at 69.00 on Friday. The firm has a 50-day moving average price of $78.72 and a 200-day moving average price of $80.77. Walgreens Boots Alliance, Inc. has a 12-month low of $68.55 and a 12-month high of $88.00. The firm has a market cap of $73.84 billion, a price-to-earnings ratio of 17.42 and a beta of 1.25.
Walgreens Boots Alliance announced that its Board of Directors has initiated a share buyback program on Thursday, June 29th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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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