Walgreens Boots Alliance, Inc. (WBA) Rating Reiterated by Needham & Company LLC

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday. They presently have a $94.00 target price on the pharmacy operator’s stock. Needham & Company LLC’s price target indicates a potential upside of 36.39% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Pivotal Research set a $85.00 price objective on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a research note on Sunday, July 2nd. Guggenheim restated a “buy” rating on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. Morgan Stanley restated an “overweight” rating and set a $95.00 price objective on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. Citigroup Inc. restated a “buy” rating on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $77.00 price objective (down from $89.00) on shares of Walgreens Boots Alliance in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $91.31.

Walgreens Boots Alliance declared that its board has authorized a stock buyback plan on Thursday, June 29th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the pharmacy operator to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total value of $218,305.44. Following the transaction, the director now directly owns 19,151 shares of the company’s stock, valued at approximately $1,528,058.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in WBA. Hudock Capital Group LLC raised its holdings in Walgreens Boots Alliance by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock valued at $102,000 after acquiring an additional 6 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Walgreens Boots Alliance by 10.4% during the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after purchasing an additional 125 shares during the period. Reilly Financial Advisors LLC increased its holdings in shares of Walgreens Boots Alliance by 7.9% during the second quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock worth $107,000 after purchasing an additional 100 shares during the period. Orrstown Financial Services Inc. increased its holdings in shares of Walgreens Boots Alliance by 14.1% during the second quarter. Orrstown Financial Services Inc. now owns 1,728 shares of the pharmacy operator’s stock worth $135,000 after purchasing an additional 213 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in shares of Walgreens Boots Alliance by 46.3% during the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock worth $135,000 after purchasing an additional 2,199 shares during the period. 60.16% of the stock is currently owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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