Walgreens Boots Alliance (NASDAQ:WBA) Sees Unusually-High Trading Volume Following Earnings Beat

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 6,251,158 shares changed hands during trading, a decline of 54% from the previous session’s volume of 13,495,633 shares.The stock last traded at $21.28 and had previously closed at $21.02.

The pharmacy operator reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.38. Walgreens Boots Alliance had a net margin of 0.40% and a return on equity of 10.48%. The firm had revenue of $37.05 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s revenue was up 6.3% on a year-over-year basis.

Walgreens Boots Alliance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.79%. Walgreens Boots Alliance’s dividend payout ratio is presently 151.52%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WBA. SVB Leerink decreased their target price on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Monday, March 18th. TheStreet upgraded shares of Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a report on Monday, January 8th. Leerink Partnrs restated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Monday, February 26th. Barclays began coverage on shares of Walgreens Boots Alliance in a report on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 price target on the stock. Finally, Raymond James restated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Walgreens Boots Alliance has a consensus rating of “Hold” and an average price target of $25.00.

Insiders Place Their Bets

In other Walgreens Boots Alliance news, Director Nancy M. Schlichting sold 15,209 shares of Walgreens Boots Alliance stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $23.05, for a total value of $350,567.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Nancy M. Schlichting sold 15,209 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $23.05, for a total transaction of $350,567.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy C. Wentworth purchased 10,000 shares of Walgreens Boots Alliance stock in a transaction dated Friday, January 5th. The shares were purchased at an average cost of $24.22 per share, with a total value of $242,200.00. Following the acquisition, the chief executive officer now owns 585,122 shares of the company’s stock, valued at approximately $14,171,654.84. The disclosure for this purchase can be found here. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Walgreens Boots Alliance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Milestone Investment Advisors LLC bought a new stake in Walgreens Boots Alliance in the first quarter worth about $31,000. Penserra Capital Management LLC bought a new stake in Walgreens Boots Alliance in the fourth quarter worth about $34,000. Highlander Capital Management LLC bought a new stake in Walgreens Boots Alliance in the fourth quarter worth about $26,000. Pineridge Advisors LLC bought a new stake in Walgreens Boots Alliance in the fourth quarter worth about $26,000. Finally, Venturi Wealth Management LLC raised its position in Walgreens Boots Alliance by 1,241.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 981 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Trading Down 0.6 %

The firm’s 50-day simple moving average is $21.75 and its 200 day simple moving average is $22.29. The company has a quick ratio of 0.30, a current ratio of 0.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $18.02 billion, a P/E ratio of 31.27, a PEG ratio of 1.27 and a beta of 0.73.

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.