Summit Trail Advisors LLC Raises Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Summit Trail Advisors LLC lifted its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 60.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,220 shares of the pharmacy operator’s stock after purchasing an additional 9,144 shares during the quarter. Summit Trail Advisors LLC’s holdings in Walgreens Boots Alliance were worth $293,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC lifted 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 worth $25,000 after purchasing an additional 1,300 shares during the last quarter. Pineridge Advisors LLC purchased a new position in Walgreens Boots Alliance during the 4th quarter valued at $26,000. Blue Trust Inc. grew its position in Walgreens Boots Alliance by 87.0% in the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 1,081 shares during the last quarter. Quest Partners LLC purchased a new stake in Walgreens Boots Alliance in the fourth quarter worth $30,000. Finally, Continuum Advisory LLC lifted its position in shares of Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,020 shares during the last quarter. Institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Stock Performance

Shares of WBA opened at $8.56 on Tuesday. Walgreens Boots Alliance, Inc. has a 12 month low of $8.46 and a 12 month high of $27.05. The stock has a fifty day moving average price of $10.23 and a 200-day moving average price of $14.59. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.39 billion, a PE ratio of -1.27, a P/E/G ratio of 1.02 and a beta of 0.70.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly 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). Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts predict that Walgreens Boots Alliance, Inc. will post 2.86 earnings per share for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.00 dividend on an annualized basis and a yield of 11.68%. Walgreens Boots Alliance’s payout ratio is -14.84%.

Analyst Ratings Changes

A number of research firms have recently commented on WBA. Evercore ISI cut their price target on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Truist Financial lowered their price target on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. decreased their target price on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Bank of America dropped their price target on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada cut their price target on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Walgreens Boots Alliance has a consensus rating of “Hold” and an average price target of $14.73.

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.