Walgreens Boots Alliance, Inc. (WBA) Shares Sold by IMS Capital Management

IMS Capital Management cut its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the pharmacy operator’s stock after selling 330 shares during the period. IMS Capital Management’s holdings in Walgreens Boots Alliance were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Modera Wealth Management LLC lifted its holdings in Walgreens Boots Alliance by 0.4% in the first quarter. Modera Wealth Management LLC now owns 2,451 shares of the pharmacy operator’s stock worth $204,000 after buying an additional 9 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in Walgreens Boots Alliance by 0.5% in the first quarter. Flagship Harbor Advisors LLC now owns 3,027 shares of the pharmacy operator’s stock worth $243,000 after buying an additional 16 shares during the period. Sowell Financial Services LLC lifted its holdings in Walgreens Boots Alliance by 0.6% in the first quarter. Sowell Financial Services LLC now owns 2,703 shares of the pharmacy operator’s stock worth $218,000 after buying an additional 17 shares during the period. WealthTrust Arizona LLC lifted its holdings in Walgreens Boots Alliance by 0.4% in the second quarter. WealthTrust Arizona LLC now owns 5,264 shares of the pharmacy operator’s stock worth $412,000 after buying an additional 21 shares during the period. Finally, Guardian Life Insurance Co. of America lifted its holdings in Walgreens Boots Alliance by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,301 shares of the pharmacy operator’s stock worth $274,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 60.16% of the company’s stock.

In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total transaction of $218,305.44. Following the completion of the sale, the director now owns 19,151 shares of the company’s stock, valued at $1,528,058.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.50% of the company’s stock.

Several analysts have 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 price objective for the company in a report on Friday, June 30th. Pivotal Research set a $85.00 price objective on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a report on Sunday, July 2nd. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $77.00 target price (down from $89.00) on shares of Walgreens Boots Alliance in a report on Wednesday, June 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $95.00 target price on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. One investment 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. The stock presently has an average rating of “Buy” and a consensus price target of $91.31.

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Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) opened at 69.00 on Friday. The company’s 50 day moving average is $78.72 and its 200 day moving average is $80.77. Walgreens Boots Alliance, Inc. has a 12 month low of $68.55 and a 12 month high of $88.00. The company has a market cap of $73.84 billion, a P/E ratio of 17.42 and a beta of 1.25.

Walgreens Boots Alliance declared that its Board of Directors has initiated a share buyback plan on Thursday, June 29th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to buy up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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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