Walgreens Boots Alliance, Inc. (WBA) Holdings Lifted by Legal & General Group Plc

Legal & General Group Plc raised its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,550,856 shares of the pharmacy operator’s stock after purchasing an additional 223,186 shares during the quarter. Legal & General Group Plc owned about 0.43% of Walgreens Boots Alliance worth $356,368,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Walgreens Boots Alliance by 1.8% in the first quarter. State Street Corp now owns 37,612,843 shares of the pharmacy operator’s stock worth $3,123,757,000 after acquiring an additional 677,743 shares during the period. Wellington Management Group LLP increased its stake in shares of Walgreens Boots Alliance by 5.9% in the first quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock worth $2,727,932,000 after acquiring an additional 1,824,300 shares during the period. Nordea Investment Management AB increased its stake in shares of Walgreens Boots Alliance by 26.5% in the first quarter. Nordea Investment Management AB now owns 9,154,328 shares of the pharmacy operator’s stock worth $760,267,000 after acquiring an additional 1,917,082 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Walgreens Boots Alliance by 22.4% in the first quarter. TIAA CREF Investment Management LLC now owns 5,269,500 shares of the pharmacy operator’s stock worth $437,632,000 after acquiring an additional 962,959 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Walgreens Boots Alliance by 22.9% in the first quarter. UBS Asset Management Americas Inc. now owns 4,912,489 shares of the pharmacy operator’s stock worth $407,982,000 after acquiring an additional 914,888 shares during the period. Institutional investors and hedge funds own 60.16% of the company’s stock.

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A number of analysts have recently weighed in 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 price objective on the stock in a research note on Friday, June 30th. Pivotal Research set a $85.00 price objective on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a research note on Sunday, July 2nd. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $77.00 price objective (down previously from $89.00) on shares of Walgreens Boots Alliance in a research note on Wednesday, June 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $91.31.

Walgreens Boots Alliance, Inc. (WBA) opened at 69.00 on Friday. The stock has a 50 day moving average of $78.72 and a 200 day moving average of $80.77. Walgreens Boots Alliance, Inc. has a 1-year low of $68.55 and a 1-year high of $88.00. The stock has a market capitalization of $73.84 billion, a P/E ratio of 17.42 and a beta of 1.25.

Walgreens Boots Alliance announced that its Board of Directors has approved a share buyback plan on Thursday, June 29th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total value of $218,305.44. Following the sale, the director now directly owns 19,151 shares of the company’s stock, valued at approximately $1,528,058.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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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