Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $13.00

Walgreens Boots Alliance (NASDAQ:WBA) had its target price trimmed by Truist Financial from $20.00 to $13.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the pharmacy operator’s stock.

A number of other equities analysts have also issued reports on WBA. Deutsche Bank Aktiengesellschaft lowered their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a hold rating on the stock in a report on Wednesday, April 3rd. 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 report on Monday, June 24th. Morgan Stanley cut their price objective on shares of Walgreens Boots Alliance from $16.00 to $13.00 and set an underweight rating for the company in a research report on Friday, May 31st. Raymond James reaffirmed a market perform rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. Finally, Bank of America restated an underperform rating and issued a $11.00 price objective (down previously from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $20.64.

Walgreens Boots Alliance Trading Down 0.8 %

Shares of NASDAQ WBA opened at $12.10 on Friday. Walgreens Boots Alliance has a twelve month low of $11.68 and a twelve month high of $31.32. The stock has a 50 day moving average of $16.49 and a two-hundred day moving average of $20.19. The company has a current ratio of 0.65, a quick ratio of 0.32 and a debt-to-equity ratio of 0.49.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.04). 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 during the quarter, compared to analyst estimates of $35.94 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that Walgreens Boots Alliance will post 2.88 EPS for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.27%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is -14.84%.

Insider Transactions at Walgreens Boots Alliance

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

Several hedge funds have recently modified their holdings of WBA. Verity Asset Management Inc. purchased a new stake in shares of Walgreens Boots Alliance during the first quarter valued at approximately $411,000. Cetera Advisors LLC increased its stake in Walgreens Boots Alliance by 73.9% during the 1st quarter. Cetera Advisors LLC now owns 110,889 shares of the pharmacy operator’s stock worth $2,405,000 after buying an additional 47,136 shares during the period. Cetera Investment Advisers lifted its holdings in Walgreens Boots Alliance by 89.8% in the 1st quarter. Cetera Investment Advisers now owns 349,464 shares of the pharmacy operator’s stock worth $7,580,000 after buying an additional 165,389 shares in the last quarter. Swedbank AB purchased a new position in Walgreens Boots Alliance in the 1st quarter valued at about $16,365,000. Finally, LRI Investments LLC acquired a new stake in shares of Walgreens Boots Alliance during the first quarter valued at about $145,000. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

About Walgreens Boots Alliance

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.