Wetherby Asset Management Inc. reduced its stake in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 5.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,368 shares of the pharmacy operator’s stock after selling 866 shares during the period. Wetherby Asset Management Inc.’s holdings in Walgreens Boots Alliance were worth $786,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Horan Capital Advisors LLC. acquired a new stake in Walgreens Boots Alliance during the 1st quarter worth about $25,000. Nelson Roberts Investment Advisors LLC acquired a new stake in shares of Walgreens Boots Alliance during the 1st quarter valued at about $25,000. Meridian Wealth Management LLC acquired a new stake in shares of Walgreens Boots Alliance during the 1st quarter valued at about $25,000. Weaver Consulting Group acquired a new stake in shares of Walgreens Boots Alliance during the 1st quarter valued at about $27,000. Finally, Sageworth Trust Co acquired a new stake in shares of Walgreens Boots Alliance during the 2nd quarter valued at about $27,000. 62.12% of the stock is currently owned by institutional investors.
Walgreens Boots Alliance stock traded down $0.31 during midday trading on Wednesday, reaching $51.14. The company had a trading volume of 1,785,045 shares, compared to its average volume of 4,256,189. The company has a market capitalization of $45.82 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.34 and a beta of 0.81. Walgreens Boots Alliance Inc has a 12-month low of $49.31 and a 12-month high of $86.31. The business has a fifty day moving average of $54.36. The company has a quick ratio of 0.37, a current ratio of 0.76 and a debt-to-equity ratio of 0.49.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a $0.458 dividend. The ex-dividend date is Monday, August 19th. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. This represents a $1.83 dividend on an annualized basis and a yield of 3.58%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is currently 29.24%.
In related news, CAO Marco Patrick Anthony Pagni sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.05, for a total value of $1,061,000.00. Following the transaction, the chief accounting officer now directly owns 435,811 shares of the company’s stock, valued at approximately $23,119,773.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.73% of the company’s stock.
A number of equities research analysts have recently commented on the company. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. ValuEngine upgraded Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Friday, June 28th. Morgan Stanley set a $61.00 target price on Walgreens Boots Alliance and gave the company a “hold” rating in a research report on Tuesday, May 14th. Zacks Investment Research cut Walgreens Boots Alliance from a “hold” rating to a “sell” rating and set a $53.00 target price on the stock. in a research report on Monday, June 10th. Finally, Guggenheim assumed coverage on Walgreens Boots Alliance in a research report on Thursday, April 18th. They set a “neutral” rating and a $59.00 target price on the stock. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.82.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.
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