Walgreens Boots Alliance (NASDAQ:WBA) Trading Down 4.5%

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Walgreens Boots Alliance Inc (NASDAQ:WBA)’s share price fell 4.5% during mid-day trading on Wednesday . The company traded as low as $50.36 and last traded at $50.70, 3,434,283 shares were traded during trading. A decline of 43% from the average session volume of 6,002,616 shares. The stock had previously closed at $53.07.

A number of research firms recently issued reports on WBA. ValuEngine upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Friday, June 28th. Bank of America lowered their price objective on shares of Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating and set a $53.00 price objective on the stock. in a report on Monday, June 10th. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Walgreens Boots Alliance from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Walgreens Boots Alliance presently has a consensus rating of “Hold” and an average price target of $63.82.

The company has a current ratio of 0.76, a quick ratio of 0.37 and a debt-to-equity ratio of 0.49. The stock has a market cap of $46.88 billion, a PE ratio of 8.42, a P/E/G ratio of 1.32 and a beta of 0.81. The company has a 50 day simple moving average of $54.33.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.05. The firm had revenue of $34.59 billion during the quarter, compared to analyst estimates of $34.52 billion. Walgreens Boots Alliance had a net margin of 3.53% and a return on equity of 22.08%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 EPS. As a group, sell-side analysts anticipate that Walgreens Boots Alliance Inc will post 5.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a $0.458 dividend. This represents a $1.83 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, August 19th. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. Walgreens Boots Alliance’s payout ratio is currently 29.24%.

Several large investors have recently made changes to their positions in WBA. Family Legacy Inc. raised its stake in shares of Walgreens Boots Alliance by 2.5% in the first quarter. Family Legacy Inc. now owns 8,020 shares of the pharmacy operator’s stock worth $442,000 after purchasing an additional 195 shares during the last quarter. Hills Bank & Trust Co. raised its stake in shares of Walgreens Boots Alliance by 5.5% in the first quarter. Hills Bank & Trust Co. now owns 3,815 shares of the pharmacy operator’s stock worth $242,000 after purchasing an additional 200 shares during the last quarter. Plimoth Trust Co. LLC grew its holdings in Walgreens Boots Alliance by 2.4% during the first quarter. Plimoth Trust Co. LLC now owns 8,379 shares of the pharmacy operator’s stock worth $530,000 after acquiring an additional 200 shares during the period. Cable Hill Partners LLC grew its holdings in Walgreens Boots Alliance by 40.0% during the first quarter. Cable Hill Partners LLC now owns 700 shares of the pharmacy operator’s stock worth $44,000 after acquiring an additional 200 shares during the period. Finally, Exencial Wealth Advisors LLC grew its holdings in Walgreens Boots Alliance by 1.0% during the first quarter. Exencial Wealth Advisors LLC now owns 20,134 shares of the pharmacy operator’s stock worth $1,274,000 after acquiring an additional 207 shares during the period. Institutional investors own 61.97% of the company’s stock.

About Walgreens Boots Alliance (NASDAQ:WBA)

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

See Also: Initial Public Offering (IPO)

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