Walgreens Boots Alliance, Inc. (NASDAQ:WBA) had its price objective reduced by Pivotal Research from $85.00 to $73.00 in a research report report published on Tuesday, October 24th, Marketbeat.com reports. Pivotal Research currently has a hold rating on the pharmacy operator’s stock.
Several other equities research analysts have also recently commented on the stock. Needham & Company LLC raised shares of Walgreens Boots Alliance from a hold rating to a buy rating and set a $94.00 price target on the stock in a research report on Friday, June 30th. Morgan Stanley cut shares of Walgreens Boots Alliance from an overweight rating to an equal weight rating and dropped their target price for the company from $95.00 to $85.00 in a report on Friday, October 6th. Robert W. Baird reaffirmed an outperform rating and issued a $80.00 target price (down from $90.00) on shares of Walgreens Boots Alliance in a report on Thursday, October 19th. They noted that the move was a valuation call. BidaskClub raised shares of Walgreens Boots Alliance from a sell rating to a hold rating in a report on Wednesday, August 30th. Finally, Zacks Investment Research cut shares of Walgreens Boots Alliance from a hold rating to a sell rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $87.63.
Shares of Walgreens Boots Alliance (NASDAQ WBA) opened at $70.99 on Tuesday. Walgreens Boots Alliance has a 1-year low of $63.82 and a 1-year high of $88.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.07. The firm has a market capitalization of $70,204.04, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.20.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.10. The company had revenue of $30.15 billion during the quarter, compared to analyst estimates of $29.93 billion. Walgreens Boots Alliance had a net margin of 3.45% and a return on equity of 18.36%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. equities research analysts predict that Walgreens Boots Alliance will post 5.55 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, November 10th. Walgreens Boots Alliance’s payout ratio is 42.33%.
Walgreens Boots Alliance declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the pharmacy operator to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director John Anthony Lederer purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at $3,350,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the transaction, the director now owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. 13.50% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Hudock Capital Group LLC raised its position in Walgreens Boots Alliance by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after acquiring an additional 6 shares during the period. Modera Wealth Management LLC raised its position in Walgreens Boots Alliance by 0.4% in the first quarter. Modera Wealth Management LLC now owns 2,451 shares of the pharmacy operator’s stock worth $204,000 after acquiring an additional 9 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Walgreens Boots Alliance by 0.5% in the first quarter. Flagship Harbor Advisors LLC now owns 3,027 shares of the pharmacy operator’s stock valued at $243,000 after purchasing an additional 16 shares during the period. Sowell Financial Services LLC raised its position in shares of Walgreens Boots Alliance by 0.6% in the first quarter. Sowell Financial Services LLC now owns 2,703 shares of the pharmacy operator’s stock valued at $218,000 after purchasing an additional 17 shares during the period. Finally, WealthTrust Arizona LLC raised its position in shares of Walgreens Boots Alliance by 0.4% in the second quarter. WealthTrust Arizona LLC now owns 5,264 shares of the pharmacy operator’s stock valued at $412,000 after purchasing an additional 21 shares during the period. 63.79% of the stock is currently owned by institutional investors and hedge funds.
Walgreens Boots Alliance Company Profile
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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