Community Bank N.A. decreased its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,915 shares of the pharmacy operator’s stock after selling 150 shares during the period. Community Bank N.A.’s holdings in Walgreens Boots Alliance were worth $542,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Reilly Financial Advisors LLC boosted its holdings in shares of Walgreens Boots Alliance by 7.9% in the 2nd quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock valued at $107,000 after buying an additional 100 shares in the last quarter. Orrstown Financial Services Inc. boosted its holdings in shares of Walgreens Boots Alliance by 14.1% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,728 shares of the pharmacy operator’s stock valued at $135,000 after buying an additional 213 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Walgreens Boots Alliance by 68.2% in the 1st quarter. MCF Advisors LLC now owns 1,923 shares of the pharmacy operator’s stock valued at $160,000 after buying an additional 780 shares in the last quarter. Founders Capital Management acquired a new position in shares of Walgreens Boots Alliance in the 1st quarter valued at $161,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Walgreens Boots Alliance in the 1st quarter valued at $197,000. Institutional investors and hedge funds own 60.16% of the company’s stock.
Several brokerages have recently issued reports on WBA. Needham & Company LLC restated a “buy” rating and issued a $94.00 target price on shares of Walgreens Boots Alliance in a report on Thursday. Morgan Stanley cut shares of Walgreens Boots Alliance from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $95.00 to $85.00 in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $95.00 target price on shares of Walgreens Boots Alliance in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $91.31.
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In other news, Director William C. Foote sold 2,736 shares of the business’s 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 transaction, the director now owns 19,151 shares of the company’s stock, valued at $1,528,058.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 13.50% of the company’s stock.
Walgreens Boots Alliance declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 29th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the pharmacy operator to buy up to 5.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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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