Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Shares Sold by MAI Capital Management

MAI Capital Management cut its holdings in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,300 shares of the pharmacy operator’s stock after selling 2,600 shares during the quarter. MAI Capital Management’s holdings in Walgreens Boots Alliance were worth $540,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new stake in Walgreens Boots Alliance during the first quarter worth about $35,000. Iron Horse Wealth Management LLC increased its holdings in shares of Walgreens Boots Alliance by 162.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 1,300 shares in the last quarter. Blue Trust Inc. boosted its holdings in Walgreens Boots Alliance by 87.0% during the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 1,081 shares in the last quarter. Continuum Advisory LLC grew its position in Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,020 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Walgreens Boots Alliance in the second quarter valued at $34,000. 58.59% of the stock is owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Stock Up 4.3 %

WBA stock opened at $8.66 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.37 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $9.14 and a two-hundred day moving average of $11.59. Walgreens Boots Alliance, Inc. has a 12 month low of $8.08 and a 12 month high of $27.05. The company has a market cap of $7.49 billion, a price-to-earnings ratio of -0.87, a PEG ratio of 1.09 and a beta of 0.69.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $37.50 billion during the quarter, compared to analysts’ expectations of $35.75 billion. Walgreens Boots Alliance had a positive return on equity of 14.23% and a negative net margin of 5.85%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, analysts forecast that Walgreens Boots Alliance, Inc. will post 1.53 earnings per share for the current fiscal year.

Walgreens Boots Alliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.55%. The ex-dividend date is Monday, November 18th. Walgreens Boots Alliance’s payout ratio is currently -9.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WBA shares. UBS Group increased their target price on shares of Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Evercore ISI raised their price objective on Walgreens Boots Alliance from $7.50 to $10.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. TD Cowen reduced their target price on Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Truist Financial dropped their price target on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Walgreens Boots Alliance currently has a consensus rating of “Hold” and a consensus price target of $12.88.

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.