Dynamic Capital Management Ltd Sells 6,550 Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Dynamic Capital Management Ltd reduced its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 26.3% during the first quarter, Holdings Channel reports. The firm owned 18,369 shares of the pharmacy operator’s stock after selling 6,550 shares during the period. Dynamic Capital Management Ltd’s holdings in Walgreens Boots Alliance were worth $1,526,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hudock Capital Group LLC boosted its stake in shares of Walgreens Boots Alliance by 0.4% in the first quarter. Hudock Capital Group LLC now owns 1,300 shares of the pharmacy operator’s stock worth $108,000 after buying an additional 5 shares during the period. Tarbox Group Inc. boosted its stake in shares of Walgreens Boots Alliance by 288.3% in the first quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock worth $113,000 after buying an additional 1,006 shares during the period. Howe & Rusling Inc. boosted its stake in shares of Walgreens Boots Alliance by 209.2% in the first quarter. Howe & Rusling Inc. now owns 1,441 shares of the pharmacy operator’s stock worth $120,000 after buying an additional 975 shares during the period. Webster Bank N. A. boosted its stake in shares of Walgreens Boots Alliance by 18.4% in the first quarter. Webster Bank N. A. now owns 1,509 shares of the pharmacy operator’s stock worth $125,000 after buying an additional 235 shares during the period. Finally, Orrstown Financial Services Inc. boosted its stake in shares of Walgreens Boots Alliance by 13.9% in the first quarter. Orrstown Financial Services Inc. now owns 1,515 shares of the pharmacy operator’s stock worth $126,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 61.17% of the company’s stock.

Shares of Walgreens Boots Alliance, Inc. (NASDAQ WBA) traded down 0.55% on Thursday, reaching $80.83. 279,650 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $78.91 and its 200-day moving average price is $82.32. The stock has a market capitalization of $86.50 billion, a price-to-earnings ratio of 20.41 and a beta of 1.25. Walgreens Boots Alliance, Inc. has a 52 week low of $75.18 and a 52 week high of $89.69.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.03. The firm had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $29.72 billion. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Equities analysts predict that Walgreens Boots Alliance, Inc. will post $5.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. Walgreens Boots Alliance’s dividend payout ratio is 37.78%.

Walgreens Boots Alliance announced that its board has initiated a share buyback program on Thursday, June 29th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the pharmacy operator to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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A number of equities research analysts have recently 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 target price for the company in a research report on Friday, June 30th. Credit Suisse Group restated a “buy” rating and set a $97.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, July 13th. Leerink Swann set a $86.00 price objective on shares of Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Friday, July 7th. Citigroup Inc. restated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Finally, Guggenheim restated a “buy” rating on shares of Walgreens Boots Alliance in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $90.69.

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 approximately $1,528,058.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.50% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

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