Walgreens Boots Alliance, Inc. (NASDAQ:WBA) has been given a consensus recommendation of “Buy” by the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. 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. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $90.73.

A number of research firms recently weighed in on WBA. Loop Capital began coverage on shares of Walgreens Boots Alliance in a research note on Thursday, August 24th. They set a “buy” rating and a $95.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $94.00 price target on shares of Walgreens Boots Alliance in a research note on Sunday, September 10th. BidaskClub downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Jefferies Group LLC reissued a “buy” rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a research note on Thursday, September 7th. Finally, Credit Suisse Group reissued a “buy” rating and set a $97.00 price target on shares of Walgreens Boots Alliance in a research note on Thursday, July 13th.

Walgreens Boots Alliance (WBA) traded up 0.12% during midday trading on Thursday, hitting $69.00. The stock had a trading volume of 6,119,253 shares. The company has a market cap of $73.84 billion, a PE ratio of 17.42 and a beta of 1.25. Walgreens Boots Alliance has a 52 week low of $68.55 and a 52 week high of $88.00. The stock’s 50 day moving average price is $79.08 and its 200-day moving average price is $80.85.

Walgreens Boots Alliance announced that its Board of Directors has initiated a stock buyback program on Thursday, June 29th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the pharmacy operator to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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In other news, Director William C. Foote sold 2,736 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.50% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Walgreens Boots Alliance by 2.8% during the second quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock worth $5,480,577,000 after acquiring an additional 1,926,108 shares in the last quarter. State Street Corp boosted its holdings in Walgreens Boots Alliance by 1.8% during the first quarter. State Street Corp now owns 37,612,843 shares of the pharmacy operator’s stock worth $3,123,757,000 after purchasing an additional 677,743 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Walgreens Boots Alliance by 5.9% during the first quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock worth $2,727,932,000 after purchasing an additional 1,824,300 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Walgreens Boots Alliance by 24.7% during the second quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock worth $1,448,939,000 after purchasing an additional 3,662,302 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Walgreens Boots Alliance by 10.2% during the second quarter. Nordea Investment Management AB now owns 10,085,836 shares of the pharmacy operator’s stock worth $789,822,000 after purchasing an additional 931,508 shares during the last quarter. 60.16% of the stock is owned by institutional investors.

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).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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