The Walgreens Boots Alliance Inc. (WBA) is Monarch Capital Management Inc.’s 2nd Largest Position

The Walgreens Boots Alliance Inc. (WBA) is Monarch Capital Management Inc.’s 2nd Largest Position

Monarch Capital Management Inc. cut its position in Walgreens Boots Alliance Inc. (NASDAQ:WBA) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 113,606 shares of the pharmacy operator’s stock after selling 3,296 shares during the period. Walgreens Boots Alliance comprises about 3.5% of Monarch Capital Management Inc.’s portfolio, making the stock its 2nd largest position. Monarch Capital Management Inc.’s holdings in Walgreens Boots Alliance were worth $9,460,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its stake in Walgreens Boots Alliance by 12.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 45,599 shares of the pharmacy operator’s stock valued at $3,841,000 after buying an additional 5,215 shares during the period. Carnick & Kubik LLC increased its stake in Walgreens Boots Alliance by 2.3% in the first quarter. Carnick & Kubik LLC now owns 8,114 shares of the pharmacy operator’s stock valued at $684,000 after buying an additional 180 shares during the period. Aviva PLC increased its stake in Walgreens Boots Alliance by 1.3% in the first quarter. Aviva PLC now owns 493,622 shares of the pharmacy operator’s stock valued at $41,583,000 after buying an additional 6,411 shares during the period. Ropes Wealth Advisors LLC increased its stake in Walgreens Boots Alliance by 48.2% in the first quarter. Ropes Wealth Advisors LLC now owns 15,327 shares of the pharmacy operator’s stock valued at $1,291,000 after buying an additional 4,982 shares during the period. Finally, Burgundy Asset Management Ltd. increased its stake in Walgreens Boots Alliance by 4.7% in the first quarter. Burgundy Asset Management Ltd. now owns 4,400,613 shares of the pharmacy operator’s stock valued at $370,708,000 after buying an additional 198,663 shares during the period. 59.76% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Inc. (NASDAQ:WBA) traded down 0.3403% during mid-day trading on Monday, hitting $78.0435. The stock had a trading volume of 2,824,526 shares. Walgreens Boots Alliance Inc. has a 12 month low of $71.50 and a 12 month high of $95.74. The stock’s 50-day moving average price is $80.83 and its 200-day moving average price is $81.04. The stock has a market cap of $84.47 billion, a price-to-earnings ratio of 26.9673 and a beta of 1.01.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Thursday, November 17th will be issued a $0.375 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $1.50 dividend on an annualized basis and a yield of 1.92%. Walgreens Boots Alliance’s dividend payout ratio is presently 51.90%.

Several research firms have commented on WBA. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 price objective on shares of Walgreens Boots Alliance in a report on Friday, September 9th. Zacks Investment Research raised shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Robert W. Baird reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Walgreens Boots Alliance in a report on Saturday, September 10th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $82.51 price objective (down from $95.00) on shares of Walgreens Boots Alliance in a report on Monday, July 18th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Walgreens Boots Alliance in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $93.35.

In other Walgreens Boots Alliance news, EVP Kathleen Wilson-Thompson sold 23,996 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $85.00, for a total value of $2,039,660.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William C. Foote sold 2,067 shares of Walgreens Boots Alliance stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $81.35, for a total value of $168,150.45. Following the completion of the sale, the director now directly owns 26,690 shares in the company, valued at approximately $2,171,231.50. The disclosure for this sale can be found here. 21.10% of the stock is owned by corporate insiders.

About Walgreens Boots Alliance

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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