Walgreens Boots Alliance (NASDAQ:WBA) Shares Up 6.3%

Walgreens Boots Alliance, Inc. (NASDAQ:WBAGet Free Report) shares shot up 6.3% during mid-day trading on Wednesday . The stock traded as high as $16.17 and last traded at $16.11. 19,148,786 shares changed hands during trading, an increase of 53% from the average session volume of 12,492,978 shares. The stock had previously closed at $15.15.

Analyst Ratings Changes

Several brokerages have issued reports on WBA. Truist Financial reaffirmed a “hold” rating and set a $25.00 target price on shares of Walgreens Boots Alliance in a research note on Monday, April 1st. SVB Leerink reduced their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, March 18th. HSBC reiterated a “reduce” rating and set a $20.00 price target (down previously from $27.00) on shares of Walgreens Boots Alliance in a report on Tuesday, February 20th. Raymond James reiterated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. Finally, Morgan Stanley reduced their price target on Walgreens Boots Alliance from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Walgreens Boots Alliance has a consensus rating of “Hold” and an average target price of $23.57.

Read Our Latest Stock Analysis on WBA

Walgreens Boots Alliance Price Performance

The firm has a market cap of $13.90 billion, a price-to-earnings ratio of -2.30, a PEG ratio of 0.94 and a beta of 0.78. The company has a quick ratio of 0.32, a current ratio of 0.66 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $16.96 and its 200-day moving average price is $20.56.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last issued its quarterly earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.38. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The business had revenue of $37.05 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Walgreens Boots Alliance, Inc. will post 3.21 EPS for the current year.

Walgreens Boots Alliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.21%. Walgreens Boots Alliance’s payout ratio is -14.29%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fulton Bank N.A. lifted its position in Walgreens Boots Alliance by 0.5% during the 4th quarter. Fulton Bank N.A. now owns 107,071 shares of the pharmacy operator’s stock worth $2,796,000 after acquiring an additional 523 shares in the last quarter. Insight Folios Inc lifted its position in 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 acquiring an additional 525 shares in the last quarter. Atlas Brown Inc. lifted its position in Walgreens Boots Alliance by 1.8% during the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock worth $685,000 after acquiring an additional 550 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in shares of Walgreens Boots Alliance by 4.9% in the 4th 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 raised its position in shares of Walgreens Boots Alliance by 10.1% in the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock valued at $159,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

About Walgreens Boots Alliance

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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.

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