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Walgreens Boots Alliance (NASDAQ:WBA) is trading 2% higher

Walgreens Boots Alliance (NASDAQ:WBA) is trading 2% higher

The shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA – Get Free Report) rose 2% in afternoon trading on Tuesday. The stock traded as high as $15.57 and last traded at $15.45. During trading, 3,003,568 shares changed hands, down 77% from the average session volume of 12,934,575 shares. The stock previously closed at $15.15.

Wall Street analysts weigh in

Several analysts recently commented on the company. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26. Morgan Stanley lowered their price target on shares of Walgreens Boots Alliance from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Evercore ISI cut their price target on Walgreens Boots Alliance from $18.00 to $17.00 and set an “in-line” rating on the stock in a report on Monday, June 3. Leerink Partnrs reissued a market perform rating on shares of Walgreens Boots Alliance in a research note on Monday, February 26. Finally, Truist Financial reaffirmed a “hold” rating and set a $25.00 price objective on shares of Walgreens Boots Alliance in a report on Monday, April 1. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of ‘Hold’ and an average price target of $23.57.

Get our latest stock analysis on WBA

Walgreens Boots Alliance stock up 5.5%

The company has a fifty day moving average of $17.02 and a two hundred day moving average of $20.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.66 and a quick ratio of 0.32. The company has a market cap of $13.79 billion, a price-to-earnings ratio of -2.29, a price-to-earnings growth ratio of 0.97 and a beta of 0.78.

Walgreens Boots Alliance (NASDAQ:WBA – Get Free Report) last posted its quarterly earnings data on Thursday, March 28. The pharmacy operator reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.38. Walgreens Boots Alliance had a positive return on equity of 12.11% and a negative net margin of 4.18%. The company had revenue of $37.05 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period last year, the company earned $1.16 in earnings per share. Walgreens Boots Alliance quarterly sales rose 6.3% year over year. On average, stock analysts expect Walgreens Boots Alliance, Inc. will post earnings per share of 3.21 for the current year.

Walgreens Boots Alliance dividend announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12. Well-known shareholders received a dividend of $0.25 per share on Tuesday, May 21. The ex-dividend date was Monday, May 20. This represents a dividend of $1.00 annually and a dividend yield of 6.25%. Walgreens Boots Alliance’s dividend payout ratio is currently -14.29%.

Insider activity

In related news, CFO Manmohan Mahajan bought 6,000 shares of Walgreens Boots Alliance in a transaction dated Tuesday, April 2. The shares were acquired at an average cost of $19.38 per share, with a total value of $116,280.00. Following the purchase, the chief financial officer now owns 166,969 shares of the company’s stock, valued at $3,235,859.22. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. In related news, Director Inderpal S. Bhandari acquired 3,000 shares in a transaction dated Thursday, April 11. The shares were purchased at an average cost of $18.05 per share, for a total value of $54,150.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $54,150. The purchase was disclosed in a document filed with the SEC, which can be accessed via this link. Also, CFO Manmohan Mahajan bought 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were purchased at an average price of $19.38 per share, for a total value of $116,280.00. Following the purchase, the chief financial officer now directly owns 166,969 shares of the company’s stock, valued at $3,235,859.22. The explanation for this purchase can be found here. Corporate insiders own 17.40% of the company’s shares.

Hedge funds weigh heavily on Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fulton Bank NA grew its stake in Walgreens Boots Alliance by 0.5% in the fourth quarter. Fulton Bank NA now owns 107,071 shares of the pharmacy operator’s stock worth $2,796,000 after purchasing an additional 523 shares in the last quarter. Insight Folios Inc boosted its position in shares of Walgreens Boots Alliance by 5.8% during the 4th quarter. Insight Folios Inc now owns 9,640 shares of the pharmacy operator’s stock worth $252,000 after purchasing an additional 525 shares in the last quarter. Atlas Brown Inc. increased its stake in shares of Walgreens Boots Alliance by 1.8% in the first quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock worth $685,000 after purchasing an additional 550 shares during the period. Pinnacle Financial Partners Inc grew its holdings in shares of Walgreens Boots Alliance by 4.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 11,866 shares of the pharmacy operator’s stock valued at $310,000 after purchasing an additional 555 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in shares of Walgreens Boots Alliance by 10.1% in the fourth quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock worth $159,000 after purchasing an additional 560 shares during the period. 58.59% of the shares are held by institutional investors and hedge funds.

About Walgreens Boots Alliance

(Get a free report)

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy and retail company in the United States, United Kingdom, Germany and internationally. It operates through three segments: US Retail Pharmacy, International and US Healthcare. The U.S. Retail Pharmacy segment is engaged in the operation of drugstores, health and wellness services, specialty and home delivery pharmacies, offering health and wellness, beauty, personal care and consumables and general merchandise.

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