Walgreens Boots Alliance (NASDAQ:WBA) Trading Up 0.2% – Here’s What Happened

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) shot up 0.2% during mid-day trading on Wednesday . The stock traded as high as $9.17 and last traded at $9.10. 3,855,753 shares were traded during mid-day trading, a decline of 76% from the average session volume of 16,354,463 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

Several research firms have recently commented on WBA. UBS Group reduced their price target on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Bank of America lowered their target price on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. TD Cowen decreased their price objective on shares of Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Truist Financial cut their price target on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a report on Monday. Finally, Morgan Stanley dropped their target price on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.50.

Walgreens Boots Alliance Stock Performance

The firm’s 50-day moving average price is $9.61 and its two-hundred day moving average price is $13.65. The firm has a market capitalization of $7.73 billion, a PE ratio of -1.35, a P/E/G ratio of 0.99 and a beta of 0.70. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC increased its holdings in shares of 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 valued at $25,000 after purchasing an additional 1,300 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of Walgreens Boots Alliance in the fourth quarter valued at approximately $26,000. Blue Trust Inc. increased its stake in shares of Walgreens Boots Alliance by 87.0% in the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 1,081 shares during the period. Continuum Advisory LLC increased its stake in shares of Walgreens Boots Alliance by 71.2% in the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,020 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Walgreens Boots Alliance by 282.1% in the fourth quarter. 1832 Asset Management L.P. now owns 1,219 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 900 shares during the period. Institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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.