Palisade Asset Management LLC cut its position in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 26.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,960 shares of the pharmacy operator’s stock after selling 62,998 shares during the quarter. Walgreens Boots Alliance comprises approximately 1.7% of Palisade Asset Management LLC’s holdings, making the stock its 18th biggest position. Palisade Asset Management LLC’s holdings in Walgreens Boots Alliance were worth $10,943,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in WBA. Oregon Public Employees Retirement Fund grew its stake in shares of Walgreens Boots Alliance by 12,422.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,807,507 shares of the pharmacy operator’s stock valued at $509,000 after buying an additional 34,529,539 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Walgreens Boots Alliance by 71,970.7% in the third quarter. Bank of New York Mellon Corp now owns 11,640,855 shares of the pharmacy operator’s stock valued at $848,617,000 after buying an additional 11,624,703 shares in the last quarter. Norges Bank bought a new position in Walgreens Boots Alliance during the fourth quarter worth $589,781,000. Boston Partners boosted its position in Walgreens Boots Alliance by 3,449.3% during the fourth quarter. Boston Partners now owns 3,973,944 shares of the pharmacy operator’s stock worth $271,540,000 after purchasing an additional 3,861,981 shares during the period. Finally, Morgan Stanley boosted its position in Walgreens Boots Alliance by 49.8% during the third quarter. Morgan Stanley now owns 6,248,967 shares of the pharmacy operator’s stock worth $455,550,000 after purchasing an additional 2,077,270 shares during the period. 63.07% of the stock is owned by institutional investors and hedge funds.
Shares of WBA traded up $0.79 during midday trading on Monday, reaching $54.24. 5,367,306 shares of the stock were exchanged, compared to its average volume of 6,727,794. Walgreens Boots Alliance Inc has a twelve month low of $53.32 and a twelve month high of $86.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.38 and a current ratio of 0.78. The company has a market capitalization of $48.86 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.09 and a beta of 0.86.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Loop Capital cut shares of Walgreens Boots Alliance from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $77.00 to $60.00 in a research report on Wednesday, April 3rd. BidaskClub raised shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Robert W. Baird reduced their price objective on shares of Walgreens Boots Alliance from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Finally, UBS Group initiated coverage on shares of Walgreens Boots Alliance in a research report on Thursday, January 17th. They set a “sell” rating and a $70.00 price objective for the company. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Walgreens Boots Alliance presently has an average rating of “Hold” and an average target price of $68.50.
In related news, COO Ornella Barra purchased 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was acquired at an average price of $54.56 per share, with a total value of $982,080.00. Following the completion of the purchase, the chief operating officer now directly owns 26,425 shares in the company, valued at $1,441,748. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.73% of the stock is owned by insiders.
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Walgreens Boots Alliance Company Profile
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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