Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $17.00 by Analysts at UBS Group

Walgreens Boots Alliance (NASDAQ:WBA) had its price target cut by UBS Group from $22.00 to $17.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the pharmacy operator’s stock.

Other equities research analysts have also issued research reports about the company. 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 research report on Friday, May 31st. SVB Leerink reduced 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 report on Monday, March 18th. TD Cowen lowered their price target on shares of Walgreens Boots Alliance from $37.00 to $35.00 and set a buy rating for the company in a report on Wednesday, April 3rd. Bank of America reduced their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an underperform rating on the stock in a report on Tuesday, March 26th. Finally, Truist Financial reissued a hold rating and issued a $25.00 target price on shares of Walgreens Boots Alliance in a report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Walgreens Boots Alliance currently has an average rating of Hold and an average price target of $23.07.

Walgreens Boots Alliance Trading Down 0.4 %

NASDAQ WBA opened at $15.91 on Monday. Walgreens Boots Alliance has a one year low of $14.62 and a one year high of $31.88. The firm has a 50 day simple moving average of $16.80 and a 200-day simple moving average of $20.41. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of -2.27, a PEG ratio of 0.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.32 and a current ratio of 0.66.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 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 during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Walgreens Boots Alliance will post 3.21 EPS for the current fiscal year.

Walgreens Boots Alliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.29%. The ex-dividend date was Monday, May 20th. Walgreens Boots Alliance’s payout ratio is currently -14.29%.

Insider Activity

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

Hedge Funds Weigh In On Walgreens Boots Alliance

Institutional investors have recently bought and sold shares of the company. Fulton Bank N.A. increased 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 purchasing an additional 523 shares during the period. Insight Folios Inc grew its holdings in Walgreens Boots Alliance by 5.8% during the fourth quarter. Insight Folios Inc now owns 9,640 shares of the pharmacy operator’s stock worth $252,000 after acquiring an additional 525 shares during the period. Atlas Brown Inc. raised its position in 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 acquiring an additional 550 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in 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 acquiring an additional 555 shares during the period. Finally, Westpac Banking Corp increased its holdings 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. 58.59% of the stock is owned by institutional investors and hedge funds.

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.