Walgreens Boots Alliance (NASDAQ:WBA) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

Walgreens Boots Alliance (NASDAQ:WBAFree Report) had its target price reduced by JPMorgan Chase & Co. from $30.00 to $20.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

Several other equities research analysts have also weighed in on the company. UBS Group decreased their price objective on Walgreens Boots Alliance from $22.00 to $17.00 and set a neutral rating for the company in a report on Monday, June 24th. Morgan Stanley reduced their target price on Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating for the company in a report on Friday. Barclays reduced their target price on Walgreens Boots Alliance from $21.00 to $19.00 and set an underweight rating for the company in a report on Monday, June 24th. Truist Financial reduced their target price on Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating for the company in a report on Friday. Finally, 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 report on Friday. Four equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $19.00.

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Walgreens Boots Alliance Stock Performance

WBA stock opened at $11.58 on Monday. The stock has a 50-day moving average price of $16.49 and a 200-day moving average price of $20.14. Walgreens Boots Alliance has a 1-year low of $11.48 and a 1-year high of $31.32. 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 $10.00 billion, a PE ratio of -1.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last announced its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The company had revenue of $36.40 billion for the quarter, compared to analysts’ expectations of $35.94 billion. During the same period in the previous year, the firm earned $1.00 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Walgreens Boots Alliance will post 2.94 earnings per share for the current year.

Walgreens Boots Alliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.00 annualized dividend and a yield of 8.64%. Walgreens Boots Alliance’s dividend payout ratio is currently -14.84%.

Insider Activity

In other news, Director Inderpal S. Bhandari acquired 3,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $54,150. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Verity Asset Management Inc. purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at approximately $411,000. Cetera Advisors LLC boosted its stake in shares of Walgreens Boots Alliance by 73.9% during the 1st quarter. Cetera Advisors LLC now owns 110,889 shares of the pharmacy operator’s stock valued at $2,405,000 after buying an additional 47,136 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Walgreens Boots Alliance by 89.8% during the 1st quarter. Cetera Investment Advisers now owns 349,464 shares of the pharmacy operator’s stock valued at $7,580,000 after buying an additional 165,389 shares during the last quarter. Swedbank AB purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at approximately $16,365,000. Finally, LRI Investments LLC purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at approximately $145,000. Institutional investors and hedge funds own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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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.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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