Walgreens Boots Alliance (NASDAQ:WBA) Given New $13.00 Price Target at Royal Bank of Canada

Walgreens Boots Alliance (NASDAQ:WBA) had its target price lowered by Royal Bank of Canada from $22.00 to $13.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a sector perform rating on the pharmacy operator’s stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating on the stock in a research report on Friday, June 28th. SVB Leerink dropped their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a market perform rating on the stock in a research note on Monday, March 18th. Evercore ISI reduced their price objective on Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating for the company in a research report on Friday, June 28th. UBS Group dropped their target price on Walgreens Boots Alliance from $22.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Walgreens Boots Alliance from $30.00 to $20.00 and set an overweight rating on the stock in a research note on Monday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $18.07.

Walgreens Boots Alliance Stock Performance

WBA stock opened at $11.57 on Tuesday. The stock has a market capitalization of $9.99 billion, a PE ratio of -1.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. The stock’s 50 day simple moving average is $16.36 and its 200 day simple moving average is $20.05. Walgreens Boots Alliance has a 12-month low of $11.40 and a 12-month high of $31.32. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business had revenue of $36.40 billion for the quarter, compared to analysts’ expectations of $35.94 billion. During the same period last year, the business earned $1.00 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, research analysts forecast that Walgreens Boots Alliance will post 2.94 earnings per share for the current fiscal 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.64%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio is currently -14.84%.

Insiders Place Their Bets

In other Walgreens Boots Alliance news, Director Inderpal S. Bhandari purchased 3,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $18.05 per share, with a total value of $54,150.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $54,150. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of Walgreens Boots Alliance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Highlander Capital Management LLC purchased a new stake in shares of Walgreens Boots Alliance during the 4th quarter worth approximately $26,000. Pineridge Advisors LLC bought a new position in Walgreens Boots Alliance during the fourth quarter valued at $26,000. Venturi Wealth Management LLC grew its stake in shares of Walgreens Boots Alliance by 1,241.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 981 shares in the last quarter. Rocky Mountain Advisers LLC bought a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth about $30,000. Finally, Quest Partners LLC purchased a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at about $30,000. 58.59% of the stock is currently owned by institutional investors.

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.