Cornerstone Advisors Inc. Raises Stock Holdings in Walgreens Boots Alliance Inc (NASDAQ:WBA)

Cornerstone Advisors Inc. increased its position in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 47.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 898 shares of the pharmacy operator’s stock after acquiring an additional 289 shares during the period. Cornerstone Advisors Inc.’s holdings in Walgreens Boots Alliance were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Guggenheim Capital LLC raised its stake in shares of Walgreens Boots Alliance by 3.0% during the 4th quarter. Guggenheim Capital LLC now owns 687,665 shares of the pharmacy operator’s stock valued at $40,545,000 after buying an additional 19,939 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Walgreens Boots Alliance by 98.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 6,928 shares of the pharmacy operator’s stock valued at $408,000 after buying an additional 3,436 shares during the last quarter. IMS Capital Management purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at about $516,000. Fulton Bank N.A. raised its stake in shares of Walgreens Boots Alliance by 22.8% during the 1st quarter. Fulton Bank N.A. now owns 28,930 shares of the pharmacy operator’s stock valued at $1,324,000 after buying an additional 5,373 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. raised its stake in shares of Walgreens Boots Alliance by 2.6% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 18,494 shares of the pharmacy operator’s stock valued at $1,090,000 after buying an additional 463 shares during the last quarter. Institutional investors own 57.12% of the company’s stock.

WBA stock opened at $40.71 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.33 and a debt-to-equity ratio of 0.57. Walgreens Boots Alliance Inc has a 12-month low of $36.65 and a 12-month high of $64.50. The stock has a market cap of $35.28 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 1.76 and a beta of 0.55. The business’s 50-day moving average is $41.39 and its 200 day moving average is $45.26.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, July 9th. The pharmacy operator reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.27). Walgreens Boots Alliance had a return on equity of 19.43% and a net margin of 0.55%. The firm had revenue of $34.63 billion during the quarter, compared to analyst estimates of $34.32 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that Walgreens Boots Alliance Inc will post 4.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Wednesday, August 19th will be issued a $0.4675 dividend. This represents a $1.87 annualized dividend and a yield of 4.59%. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, August 18th. Walgreens Boots Alliance’s payout ratio is presently 30.55%.

WBA has been the subject of a number of recent research reports. Bank of America reduced their price objective on Walgreens Boots Alliance from $43.00 to $40.00 and set an “underperform” rating for the company in a research note on Friday, July 10th. JPMorgan Chase & Co. reduced their price objective on Walgreens Boots Alliance from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, April 3rd. Morgan Stanley dropped their target price on Walgreens Boots Alliance from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 2nd. Citigroup dropped their target price on Walgreens Boots Alliance from $48.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, Royal Bank of Canada dropped their target price on Walgreens Boots Alliance from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 10th. Four research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.00.

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

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