Truist Financial Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $13.00

Walgreens Boots Alliance (NASDAQ:WBA) had its target price reduced by Truist Financial from $20.00 to $13.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the pharmacy operator’s stock.

Several other equities research analysts have also commented on the stock. Evercore ISI reduced their price target on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating for the company in a report on Friday. Bank of America reiterated an underperform rating and set a $11.00 price objective (down previously from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday. SVB Leerink reduced their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a market perform rating for the company in a research note on Monday, March 18th. Barclays reduced their price objective on shares of Walgreens Boots Alliance from $21.00 to $19.00 and set an underweight rating for the company in a research note on Monday, June 24th. Finally, UBS Group cut their price target on shares of Walgreens Boots Alliance from $22.00 to $17.00 and set a neutral rating on the stock in a research note on Monday, June 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $20.64.

Walgreens Boots Alliance Price Performance

WBA stock opened at $12.10 on Friday. Walgreens Boots Alliance has a 12 month low of $11.68 and a 12 month high of $31.32. The company has a current ratio of 0.65, a quick ratio of 0.32 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $16.49 and a 200 day moving average price of $20.14. The stock has a market cap of $10.44 billion, a PE ratio of -1.80, a P/E/G ratio of 0.84 and a beta of 0.78.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data 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). The company had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. Walgreens Boots Alliance’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. Equities research analysts anticipate that Walgreens Boots Alliance will post 2.94 earnings per share for the current 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio is presently -14.84%.

Insiders Place Their Bets

In other Walgreens Boots Alliance news, Director Inderpal S. Bhandari bought 3,000 shares of Walgreens Boots Alliance stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $54,150. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Manmohan Mahajan acquired 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average cost of $19.38 per share, for a total transaction of $116,280.00. Following the completion of the transaction, the chief financial officer now owns 166,969 shares in the company, valued at $3,235,859.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Inderpal S. Bhandari acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $18.05 per share, with a total value of $54,150.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $54,150. The disclosure for this purchase can be found here. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of WBA. Fulton Bank N.A. boosted its stake in Walgreens Boots Alliance by 0.5% during the fourth 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 period. Insight Folios Inc boosted its stake in shares of Walgreens Boots Alliance by 5.8% in the fourth 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 during the period. Atlas Brown Inc. boosted its stake in shares of Walgreens Boots Alliance by 1.8% in the first 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 during the period. Pinnacle Financial Partners Inc boosted its stake in shares of Walgreens Boots Alliance by 4.9% in the fourth 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 during the period. Finally, Westpac Banking Corp boosted its stake in shares of Walgreens Boots Alliance by 10.1% in the fourth 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 during the period. 58.59% of the stock is currently 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.