Advisors Asset Management Inc. Cuts Stake in Walgreens Boots Alliance, Inc. $WBA

Key Points

• Advisors Asset Management Inc. has reduced its stake in Walgreens Boots Alliance by 20.7%, selling 233,063 shares, leaving them with 890,605 shares valued at approximately $9.94 million.
• Several institutional investors have either bought or increased their positions in Walgreens Boots Alliance, with over 58.59% of the company's stock now held by such entities.
• Despite a positive quarterly earnings report with revenue of $38.99 billion, Walgreens Boots Alliance has received mixed analyst ratings, with an average rating of "Reduce" and a consensus target price of $10.15.

Advisors Asset Management Inc. reduced its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 20.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 890,605 shares of the pharmacy operator's stock after selling 233,063 shares during the period. Advisors Asset Management Inc. owned approximately 0.10% of Walgreens Boots Alliance worth $9,948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Townsquare Capital LLC raised its holdings in shares of Walgreens Boots Alliance by 2.3% during the first quarter. Townsquare Capital LLC now owns 44,104 shares of the pharmacy operator's stock worth $493,000 after purchasing an additional 996 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Walgreens Boots Alliance by 28.6% during the first quarter. Central Pacific Bank Trust Division now owns 4,500 shares of the pharmacy operator's stock worth $50,000 after purchasing an additional 1,000 shares during the last quarter. MAI Capital Management raised its holdings in shares of Walgreens Boots Alliance by 1.9% during the first quarter. MAI Capital Management now owns 57,827 shares of the pharmacy operator's stock worth $646,000 after purchasing an additional 1,055 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Walgreens Boots Alliance by 6.6% during the first quarter. Frank Rimerman Advisors LLC now owns 17,682 shares of the pharmacy operator's stock worth $198,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Independent Advisor Alliance raised its holdings in shares of Walgreens Boots Alliance by 3.0% during the first quarter. Independent Advisor Alliance now owns 39,978 shares of the pharmacy operator's stock worth $447,000 after purchasing an additional 1,150 shares during the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WBA has been the subject of several recent research reports. Wall Street Zen initiated coverage on shares of Walgreens Boots Alliance in a report on Wednesday, May 21st. They set a "hold" rating for the company. Morgan Stanley reissued an "underweight" rating on shares of Walgreens Boots Alliance in a report on Thursday, June 26th. Finally, UBS Group reissued a "neutral" rating on shares of Walgreens Boots Alliance in a report on Thursday, June 26th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $10.15.

Walgreens Boots Alliance Price Performance

WBA remained flat at $11.98 on Tuesday. Walgreens Boots Alliance, Inc. has a twelve month low of $8.08 and a twelve month high of $13.25. The company has a quick ratio of 0.32, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average price of $11.76 and a 200-day moving average price of $11.34. The firm has a market cap of $10.37 billion, a PE ratio of -1.64, a PEG ratio of 1.42 and a beta of 0.80.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The pharmacy operator reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.04. The company had revenue of $38.99 billion during the quarter, compared to analysts' expectations of $36.72 billion. Walgreens Boots Alliance had a negative net margin of 4.07% and a positive return on equity of 17.66%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. Equities research analysts expect that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current fiscal year.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.