Walgreens Boots Alliance (NASDAQ:WBA) Stock Price Up 1.6%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s share price shot up 1.6% during mid-day trading on Tuesday . The stock traded as high as $8.74 and last traded at $8.70. 5,204,904 shares were traded during mid-day trading, a decline of 68% from the average session volume of 16,218,145 shares. The stock had previously closed at $8.56.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial decreased their target price on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada lowered their price objective on shares of 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. Morgan Stanley decreased their price target on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. TD Cowen reduced their price objective on Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Bank of America lowered their target price on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.73.

Walgreens Boots Alliance Stock Up 0.5 %

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 company has a market capitalization of $7.42 billion, a price-to-earnings ratio of -1.27, a P/E/G ratio of 1.02 and a beta of 0.70. The business’s 50-day moving average is $10.23 and its 200-day moving average is $14.59.

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 the consensus estimate 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 firm had revenue of $36.40 billion for the quarter, compared to analyst estimates of $35.94 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Walgreens Boots Alliance, Inc. will post 2.86 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued 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 dividend yield of 11.63%. Walgreens Boots Alliance’s payout ratio is currently -14.84%.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of hedge funds have recently modified their holdings of the business. Pineridge Advisors LLC acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth $26,000. Quest Partners LLC acquired a new position in Walgreens Boots Alliance in the 4th quarter valued at about $30,000. 1832 Asset Management L.P. increased its holdings in shares of Walgreens Boots Alliance by 282.1% during the 4th quarter. 1832 Asset Management L.P. now owns 1,219 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 900 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in Walgreens Boots Alliance during the first quarter worth $35,000. Finally, First Personal Financial Services raised its position in Walgreens Boots Alliance by 260.0% in the first quarter. First Personal Financial Services now owns 1,800 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 1,300 shares during the period. 58.59% of the stock is currently owned by institutional investors and hedge funds.

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.