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Meridian Investment Counsel Inc. Reduces Stock Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Financial News Live · Feb 5, 2023 12:21

Meridian Investment Counsel Inc. reduced its holdings in Walgreens Boots Alliance, Inc. (NASDAQ:WBA – Get Rating) by 3.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,358 shares of the pharmacy operator's stock after selling 1,293 shares during the period. Meridian Investment Counsel Inc.'s holdings in Walgreens Boots Alliance were worth $1,110,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in shares of Walgreens Boots Alliance by 24.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 545,351 shares of the pharmacy operator's stock worth $17,124,000 after purchasing an additional 107,744 shares during the period. Todd Asset Management LLC boosted its stake in shares of Walgreens Boots Alliance by 5.5% during the 3rd quarter. Todd Asset Management LLC now owns 10,143 shares of the pharmacy operator's stock worth $318,000 after purchasing an additional 529 shares during the period. North Star Asset Management Inc. boosted its stake in shares of Walgreens Boots Alliance by 16.9% during the 3rd quarter. North Star Asset Management Inc. now owns 11,757 shares of the pharmacy operator's stock worth $369,000 after purchasing an additional 1,699 shares during the period. Riverwater Partners LLC purchased a new position in shares of Walgreens Boots Alliance during the 3rd quarter worth about $251,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of Walgreens Boots Alliance by 8.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 83,201 shares of the pharmacy operator's stock worth $2,613,000 after purchasing an additional 6,321 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

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Walgreens Boots Alliance Stock Down 1.6 %

WBA stock opened at $37.09 on Friday. The firm's fifty day simple moving average is $38.21 and its 200-day simple moving average is $37.18. The company has a market capitalization of $31.99 billion, a P/E ratio of -10.78, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.36. Walgreens Boots Alliance, Inc. has a 12 month low of $30.39 and a 12 month high of $50.19.

Walgreens Boots Alliance (NASDAQ:WBA – Get Rating) last released its quarterly earnings data on Thursday, January 5th. The pharmacy operator reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. The business had revenue of $33.38 billion for the quarter, compared to the consensus estimate of $33.04 billion. Walgreens Boots Alliance had a negative net margin of 2.24% and a positive return on equity of 13.57%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. As a group, equities research analysts forecast that Walgreens Boots Alliance, Inc. will post 4.5 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Thursday, February 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Wednesday, February 15th. Walgreens Boots Alliance's dividend payout ratio (DPR) is presently -55.81%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group lifted their price target on shares of Walgreens Boots Alliance to $40.00 in a research note on Monday, November 28th. Mizuho boosted their price objective on shares of Walgreens Boots Alliance from $36.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday, December 14th. Cowen raised shares of Walgreens Boots Alliance from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $43.00 to $54.00 in a research report on Tuesday, November 22nd. Royal Bank of Canada lowered their price objective on shares of Walgreens Boots Alliance from $42.00 to $36.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 19th. Finally, Credit Suisse Group lowered their price objective on shares of Walgreens Boots Alliance from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.31.

Insider Buying and Selling

In related news, EVP Kevin M. Ban sold 10,303 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $40.19, for a total transaction of $414,077.57. Following the sale, the executive vice president now directly owns 27,916 shares of the company's stock, valued at $1,121,944.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Nancy M. Schlichting sold 16,570 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $39.89, for a total transaction of $660,977.30. Following the sale, the director now directly owns 5,515 shares of the company's stock, valued at $219,993.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin M. Ban sold 10,303 shares of the company's stock in a transaction on Friday, November 18th. The stock was sold at an average price of $40.19, for a total transaction of $414,077.57. Following the transaction, the executive vice president now owns 27,916 shares of the company's stock, valued at $1,121,944.04. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by insiders.

About Walgreens Boots Alliance

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Walgreens Boots Alliance, Inc engages in the provision of healthcare and retail pharmacy services. It operates through the following segments: United States Retail Pharmacy, International, and United States Healthcare. The US Retail Pharmacy segment includes the operation of retail drugstores, health and wellness services, specialty and home delivery pharmacy services, and equity method investment.