Walgreens Boots Alliance (NASDAQ:WBA) Stock Price Down 2.5% on Analyst Downgrade

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) shares were down 2.5% during trading on Wednesday after UBS Group lowered their price target on the stock from $17.00 to $12.00. UBS Group currently has a neutral rating on the stock. Walgreens Boots Alliance traded as low as $11.26 and last traded at $11.28. Approximately 8,255,778 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 14,606,245 shares. The stock had previously closed at $11.57.

A number of other research analysts have also recently commented on WBA. JPMorgan Chase & Co. reduced their target price on Walgreens Boots Alliance from $30.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada reduced their price objective on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Truist Financial reduced their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. SVB Leerink reduced their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, March 18th. Finally, Evercore ISI reduced their price objective 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. Four equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.71.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, Director Inderpal S. Bhandari bought 3,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $54,150. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of hedge funds have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC purchased a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth $26,000. Pineridge Advisors LLC purchased a new stake in Walgreens Boots Alliance in the 4th quarter worth $26,000. Venturi Wealth Management LLC increased its stake in Walgreens Boots Alliance by 1,241.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 981 shares in the last quarter. Rocky Mountain Advisers LLC purchased a new stake in Walgreens Boots Alliance in the 4th quarter worth $30,000. Finally, Quest Partners LLC purchased a new stake in Walgreens Boots Alliance in the 4th quarter worth $30,000. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The firm has a market cap of $9.68 billion, a PE ratio of -1.67, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. The stock has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $19.95.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Walgreens Boots Alliance, Inc. will post 2.86 earnings per share for the current fiscal year.

Walgreens Boots Alliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.92%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently -14.84%.

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.