Walgreens Boots Alliance (NASDAQ:WBA) Given New $15.00 Price Target at JPMorgan Chase & Co.

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective trimmed by JPMorgan Chase & Co. from $20.00 to $15.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the pharmacy operator’s stock.

A number of other research analysts have also issued reports on WBA. Truist Financial dropped their price objective on shares of Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating for the company in a report on Friday, June 28th. TD Cowen dropped their price target on shares of Walgreens Boots Alliance from $35.00 to $22.00 and set a buy rating for the company in a research note on Monday, July 1st. Morgan Stanley cut their price target on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating on the stock in a report on Friday, June 28th. Bank of America restated an underperform rating and issued a $11.00 price objective (down from $22.00) on shares of Walgreens Boots Alliance in a report on Friday, June 28th. Finally, UBS Group cut their target price on Walgreens Boots Alliance from $17.00 to $12.00 and set a neutral rating on the stock in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $15.46.

Walgreens Boots Alliance Stock Performance

NASDAQ WBA opened at $9.25 on Friday. The firm’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $16.18. The stock has a market cap of $7.99 billion, a PE ratio of -1.37, a PEG ratio of 0.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. Walgreens Boots Alliance has a fifty-two week low of $9.03 and a fifty-two week high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share 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 firm had revenue of $36.40 billion for the quarter, compared to the consensus estimate of $35.94 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that Walgreens Boots Alliance will post 2.87 EPS for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.00 dividend on an annualized basis and a yield of 10.81%. Walgreens Boots Alliance’s payout ratio is currently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently modified their holdings of the business. Iron Horse Wealth Management LLC grew its stake in shares of Walgreens Boots Alliance by 162.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after buying an additional 1,300 shares during the period. Pineridge Advisors LLC acquired a new stake in Walgreens Boots Alliance in the fourth quarter valued at approximately $26,000. Blue Trust Inc. increased its holdings in shares of Walgreens Boots Alliance by 87.0% during the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 1,081 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Walgreens Boots Alliance during the fourth quarter worth approximately $30,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Walgreens Boots Alliance by 71.2% in the 2nd quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,020 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors.

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.