Walgreens Boots Alliance (NASDAQ:WBA) Trading 1.9% Higher

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s stock price rose 1.9% on Tuesday . The stock traded as high as $10.42 and last traded at $10.39. Approximately 2,568,576 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 15,575,214 shares. The stock had previously closed at $10.20.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen cut their price target on Walgreens Boots Alliance from $35.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Royal Bank of Canada reduced their price target on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Bank of America restated an “underperform” rating and issued a $11.00 price objective (down previously from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday, June 28th. Truist Financial cut their target price on shares of Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Walgreens Boots Alliance from $30.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.86.

Walgreens Boots Alliance Stock Up 3.7 %

The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $12.65 and a two-hundred day moving average of $17.09. The company has a market capitalization of $9.34 billion, a PE ratio of -1.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.72.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The firm had revenue of $36.40 billion for the quarter, compared to analysts’ expectations of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 earnings per share. Equities research analysts predict that Walgreens Boots Alliance, Inc. will post 2.87 earnings per share for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.00 annualized dividend and a yield of 9.24%. Walgreens Boots Alliance’s payout ratio is -14.84%.

Institutional Trading of Walgreens Boots Alliance

Several hedge funds have recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised its stake in Walgreens Boots Alliance by 162.5% in the second quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after buying an additional 1,300 shares in the last quarter. Pineridge Advisors LLC purchased a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at about $26,000. Blue Trust Inc. raised its position in shares of Walgreens Boots Alliance by 87.0% during the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 1,081 shares in the last quarter. Quest Partners LLC purchased a new stake in Walgreens Boots Alliance during the fourth quarter worth approximately $30,000. Finally, Continuum Advisory LLC boosted its holdings in Walgreens Boots Alliance by 71.2% in the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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.