Azimuth Capital Investment Management LLC Cuts Stock Holdings in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Posted by on Jun 14th, 2023

Azimuth Capital Investment Management LLC lowered its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA – Get Rating) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,965 shares of the pharmacy operator’s stock after selling 17,510 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Walgreens Boots Alliance were worth $10,609,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT purchased a new position in Walgreens Boots Alliance during the fourth quarter worth approximately $213,000. Benedict Financial Advisors Inc. raised its stake in shares of Walgreens Boots Alliance by 6.0% in the 4th quarter. Benedict Financial Advisors Inc. now owns 59,199 shares of the pharmacy operator’s stock valued at $2,212,000 after acquiring an additional 3,330 shares during the period. Freedom Wealth Alliance LLC purchased a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at $47,000. Bontempo Ohly Capital Mgmt LLC raised its stake in shares of Walgreens Boots Alliance by 2.0% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 77,047 shares of the pharmacy operator’s stock valued at $2,878,000 after acquiring an additional 1,513 shares during the period. Finally, Centiva Capital LP purchased a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at $364,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Walgreens Boots Alliance Price Performance

Shares of WBA stock opened at $31.95 on Wednesday. The firm has a market cap of $27.57 billion, a P/E ratio of -8.75, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.63 and a quick ratio of 0.32. Walgreens Boots Alliance, Inc. has a 1-year low of $29.48 and a 1-year high of $42.74. The firm has a fifty day moving average of $32.89 and a two-hundred day moving average of $35.37.

Walgreens Boots Alliance (NASDAQ:WBA – Get Rating) last announced its quarterly earnings data on Tuesday, March 28th. The pharmacy operator reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. The company had revenue of $34.86 billion during the quarter, compared to analyst estimates of $33.56 billion. Walgreens Boots Alliance had a negative net margin of 2.36% and a positive return on equity of 12.42%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.59 EPS. As a group, research analysts anticipate that Walgreens Boots Alliance, Inc. will post 4.46 earnings per share for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend was Thursday, May 18th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently -52.60%.

Insider Activity at Walgreens Boots Alliance

In other Walgreens Boots Alliance news, CEO Rosalind G. Brewer acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was acquired at an average price of $33.95 per share, with a total value of $339,500.00. Following the transaction, the chief executive officer now directly owns 369,945 shares in the company, valued at $12,559,632.75. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WBA shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Walgreens Boots Alliance from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, March 30th. Barclays cut their target price on shares of Walgreens Boots Alliance from $45.00 to $43.00 in a research note on Sunday, March 26th. Truist Financial lowered their price target on shares of Walgreens Boots Alliance from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, March 29th. StockNews.com assumed coverage on shares of Walgreens Boots Alliance in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Loop Capital assumed coverage on shares of Walgreens Boots Alliance in a report on Wednesday, February 22nd. They set a “buy” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Walgreens Boots Alliance has a consensus rating of “Hold” and a consensus target price of $42.00.

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.

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

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