Walgreens Boots Alliance (NASDAQ:WBA) Stock Price Down 2.7%

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) dropped 2.7% during mid-day trading on Tuesday . The stock traded as low as $8.68 and last traded at $8.72. Approximately 5,157,411 shares changed hands during trading, a decline of 68% from the average daily volume of 16,355,352 shares. The stock had previously closed at $8.96.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WBA. Truist Financial reduced their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Evercore ISI lowered their target price on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. decreased their target price on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Morgan Stanley cut their price target on Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada decreased 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. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Walgreens Boots Alliance has a consensus rating of “Hold” and an average target price of $14.73.

Walgreens Boots Alliance Stock Down 3.0 %

The company’s 50 day moving average is $9.95 and its two-hundred day moving average is $14.15. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $7.50 billion, a PE ratio of -1.29, a PEG ratio of 1.03 and a beta of 0.70.

Walgreens Boots Alliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.51%. The ex-dividend date of this dividend was Wednesday, August 21st. Walgreens Boots Alliance’s dividend payout ratio is currently -14.84%.

Institutional Investors Weigh In On Walgreens Boots Alliance

Hedge funds have recently modified their holdings of the company. TD Asset Management Inc lifted its position in shares of Walgreens Boots Alliance by 4.4% during the fourth quarter. TD Asset Management Inc now owns 358,875 shares of the pharmacy operator’s stock worth $9,370,000 after purchasing an additional 15,008 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Walgreens Boots Alliance by 10.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 734,597 shares of the pharmacy operator’s stock worth $19,180,000 after purchasing an additional 69,125 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Walgreens Boots Alliance by 84.1% during the fourth quarter. CWA Asset Management Group LLC now owns 19,027 shares of the pharmacy operator’s stock worth $497,000 after purchasing an additional 8,694 shares in the last quarter. NEOS Investment Management LLC grew its position in shares of Walgreens Boots Alliance by 2.7% during the fourth quarter. NEOS Investment Management LLC now owns 42,879 shares of the pharmacy operator’s stock worth $1,120,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Walgreens Boots Alliance by 13.5% during the fourth quarter. Rafferty Asset Management LLC now owns 510,872 shares of the pharmacy operator’s stock worth $13,339,000 after acquiring an additional 60,872 shares during the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

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.