Synovus Financial Corp decreased its position in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 22.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,007 shares of the pharmacy operator’s stock after selling 3,690 shares during the period. Synovus Financial Corp’s holdings in Walgreens Boots Alliance were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Pathstone Family Office LLC raised its stake in Walgreens Boots Alliance by 226.6% in the 2nd quarter. Pathstone Family Office LLC now owns 1,179 shares of the pharmacy operator’s stock worth $1,969,000 after acquiring an additional 818 shares during the last quarter. Hudock Capital Group LLC raised its stake 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 worth $102,000 after acquiring an additional 6 shares during the last quarter. Westside Investment Management Inc. raised its stake 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 worth $102,000 after acquiring an additional 125 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in Walgreens Boots Alliance in the 3rd quarter worth $135,000. Finally, Hanson McClain Inc. raised its stake in Walgreens Boots Alliance by 4.6% in the 2nd quarter. Hanson McClain Inc. now owns 1,987 shares of the pharmacy operator’s stock worth $156,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.
Shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) opened at $73.42 on Wednesday. Walgreens Boots Alliance Inc has a 12-month low of $63.82 and a 12-month high of $88.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.96. The company has a market capitalization of $72,710.00, a PE ratio of 20.28, a PEG ratio of 1.29 and a beta of 1.22.
Walgreens Boots Alliance announced that its board has initiated a stock buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the pharmacy operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Monday, November 13th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, November 10th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 44.20%.
In other Walgreens Boots Alliance news, Director John Anthony Lederer bought 20,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were purchased at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $3,350,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William C. Foote sold 2,736 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total value of $184,324.32. Following the sale, the director now owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. 14.80% of the stock is owned by company insiders.
A number of equities analysts have weighed in on WBA shares. Pivotal Research set a $73.00 price objective on Walgreens Boots Alliance and gave the company a “hold” rating in a research note on Friday, January 5th. Loop Capital set a $90.00 price objective on Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Robert W. Baird reiterated a “buy” rating and set a $82.00 price objective on shares of Walgreens Boots Alliance in a research note on Thursday, January 4th. ValuEngine upgraded Walgreens Boots Alliance from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, Royal Bank of Canada started coverage on Walgreens Boots Alliance in a research note on Tuesday, September 19th. They set an “outperform” rating and a $96.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Walgreens Boots Alliance presently has a consensus rating of “Buy” and a consensus target price of $86.05.
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Walgreens Boots Alliance 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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