Western Wealth Management LLC Reduces Stock Holdings in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Western Wealth Management LLC lessened its holdings in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,900 shares of the pharmacy operator’s stock after selling 1,900 shares during the period. Western Wealth Management LLC’s holdings in Walgreens Boots Alliance were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Pineridge Advisors LLC purchased a new stake in Walgreens Boots Alliance in the 4th quarter worth approximately $26,000. Blue Trust Inc. lifted its stake in shares of Walgreens Boots Alliance by 87.0% in the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 1,081 shares during the period. Quest Partners LLC purchased a new stake in Walgreens Boots Alliance during the fourth quarter worth $30,000. 1832 Asset Management L.P. grew its position in Walgreens Boots Alliance by 282.1% during 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. Finally, New Covenant Trust Company N.A. purchased a new position in Walgreens Boots Alliance in the first quarter valued at $35,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. Royal Bank of Canada lowered their price target on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their price objective on Walgreens Boots Alliance from $30.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Evercore ISI reduced their target price on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Finally, UBS Group dropped 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 note on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Walgreens Boots Alliance has a consensus rating of “Hold” and an average price target of $16.86.

Walgreens Boots Alliance Price Performance

WBA opened at $10.85 on Tuesday. Walgreens Boots Alliance, Inc. has a twelve month low of $10.19 and a twelve month high of $27.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. The firm’s 50-day moving average price is $12.35 and its 200 day moving average price is $16.80.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The business had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. As a group, equities analysts expect that Walgreens Boots Alliance, Inc. will post 2.87 earnings per share for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.22%. The ex-dividend date of this dividend is Wednesday, August 21st. Walgreens Boots Alliance’s payout ratio is currently -14.84%.

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.