Walgreens Boots Alliance (NASDAQ:WBA) PT Lowered to $22.00 at TD Cowen

Walgreens Boots Alliance (NASDAQ:WBA) had its target price cut by TD Cowen from $35.00 to $22.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

A number of other analysts have also issued reports on the stock. SVB Leerink cut their price target on shares of 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a hold rating on the stock in a research note on Wednesday, April 3rd. Raymond James reiterated a market perform rating on shares of Walgreens Boots Alliance in a research note on Tuesday, March 26th. Bank of America restated an underperform rating and set a $11.00 target price (down from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday, June 28th. Finally, Morgan Stanley cut their target price on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating on the stock in a research note on Friday, June 28th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Walgreens Boots Alliance has an average rating of Hold and an average price target of $17.71.

Walgreens Boots Alliance Stock Down 4.1 %

Shares of WBA opened at $11.10 on Monday. The firm has a market cap of $9.58 billion, a P/E ratio of -1.65, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. Walgreens Boots Alliance has a 12-month low of $11.10 and a 12-month high of $31.32. The company’s 50-day moving average price is $16.23 and its 200 day moving average price is $19.95. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

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). The business had revenue of $36.40 billion for 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 firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. On average, sell-side analysts forecast that Walgreens Boots Alliance will post 2.86 earnings per share for the current year.

Walgreens Boots Alliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is -14.84%.

Insider Activity at Walgreens Boots Alliance

In other Walgreens Boots Alliance 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, with a total value of $54,150.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $54,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several large investors have recently modified their holdings of the company. Fulton Bank N.A. boosted its stake in Walgreens Boots Alliance by 0.5% in the 4th quarter. Fulton Bank N.A. now owns 107,071 shares of the pharmacy operator’s stock worth $2,796,000 after buying an additional 523 shares during the last quarter. Insight Folios Inc lifted its stake in shares of Walgreens Boots Alliance by 5.8% in the 4th quarter. Insight Folios Inc now owns 9,640 shares of the pharmacy operator’s stock valued at $252,000 after purchasing an additional 525 shares in the last quarter. Atlas Brown Inc. lifted its stake in shares of Walgreens Boots Alliance by 1.8% in the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock valued at $685,000 after purchasing an additional 550 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of Walgreens Boots Alliance by 4.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 11,866 shares of the pharmacy operator’s stock valued at $310,000 after purchasing an additional 555 shares in the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of Walgreens Boots Alliance by 10.1% in the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock valued at $159,000 after purchasing an additional 560 shares in the last quarter. 58.59% of the stock is owned by institutional investors and hedge funds.

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.