Insider Selling: Walgreens Boots Alliance, Inc. (WBA) Director Sells 2,736 Shares of Stock
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Director William C. Foote sold 2,736 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total value of $184,324.32. Following the completion of the sale, the director now directly owns 16,415 shares in the company, valued at approximately $1,105,878.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Walgreens Boots Alliance, Inc. (WBA) traded down $0.14 during mid-day trading on Friday, hitting $66.87. The company’s stock had a trading volume of 11,467,396 shares, compared to its average volume of 10,259,330. The firm has a market cap of $67,417.68, a PE ratio of 13.09 and a beta of 1.20.
Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The business had revenue of $30.15 billion during the quarter, compared to analysts’ expectations of $29.93 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. equities research analysts predict that Walgreens Boots Alliance, Inc. will post 5.55 earnings per share for the current fiscal year.
Walgreens Boots Alliance announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the pharmacy operator to purchase shares 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, November 10th. Walgreens Boots Alliance’s dividend payout ratio is 42.33%.
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A number of analysts have issued reports on WBA shares. Leerink Swann set a $86.00 price objective on Walgreens Boots Alliance and gave the stock a “buy” rating in a research note on Friday, July 7th. Credit Suisse Group reissued a “buy” rating and set a $97.00 target price on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Needham & Company LLC set a $94.00 target price on Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Monday, July 17th. BidaskClub raised Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, UBS AG reissued a “buy” rating and set a $96.00 target price (down previously from $97.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $87.63.
Hedge funds have recently modified their holdings of the business. IBM Retirement Fund lifted its holdings in shares of Walgreens Boots Alliance by 88.1% in the 2nd quarter. IBM Retirement Fund now owns 22,903 shares of the pharmacy operator’s stock worth $2,004,000 after buying an additional 10,729 shares during the period. Andra AP fonden lifted its stake in shares of Walgreens Boots Alliance by 35.3% during the 2nd quarter. Andra AP fonden now owns 58,300 shares of the pharmacy operator’s stock worth $4,565,000 after purchasing an additional 15,200 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Walgreens Boots Alliance by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,019,739 shares of the pharmacy operator’s stock worth $236,476,000 after purchasing an additional 154,995 shares during the last quarter. Birinyi Associates Inc. lifted its stake in shares of Walgreens Boots Alliance by 9.0% during the 2nd quarter. Birinyi Associates Inc. now owns 9,100 shares of the pharmacy operator’s stock worth $713,000 after purchasing an additional 750 shares during the last quarter. Finally, Montecito Bank & Trust lifted its stake in shares of Walgreens Boots Alliance by 3.6% during the 2nd quarter. Montecito Bank & Trust now owns 6,661 shares of the pharmacy operator’s stock worth $522,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 60.24% of the company’s stock.
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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