Walgreens Boots Alliance (NASDAQ:WBA) Stock Rating Reaffirmed by Cleveland Research

Cleveland Research reiterated their hold rating on shares of Walgreens Boots Alliance (NASDAQ:WBA) in a research note issued to investors on Monday morning, TipRanks reports.

WBA has been the topic of a number of other reports. BidaskClub upgraded Walgreens Boots Alliance from a strong sell rating to a sell rating in a research report on Wednesday. ValuEngine raised Walgreens Boots Alliance from a strong sell rating to a sell rating in a report on Friday, June 28th. Bank of America lowered their price target on Walgreens Boots Alliance from $53.00 to $51.00 and set an underperform rating on the stock in a research report on Monday, June 3rd. Zacks Investment Research downgraded Walgreens Boots Alliance from a hold rating to a sell rating and set a $53.00 price target on the stock. in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Walgreens Boots Alliance from $74.00 to $73.00 and set an overweight rating on the stock in a report on Friday, June 28th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Walgreens Boots Alliance currently has a consensus rating of Hold and an average target price of $63.65.

NASDAQ WBA traded up $1.18 during mid-day trading on Monday, reaching $58.06. 5,844,276 shares of the stock were exchanged, compared to its average volume of 5,866,319. The business’s 50 day moving average is $52.32 and its 200-day moving average is $55.15. Walgreens Boots Alliance has a 1 year low of $49.03 and a 1 year high of $86.31. The company has a market capitalization of $50.21 billion, a P/E ratio of 9.64, a P/E/G ratio of 1.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.37 and a current ratio of 0.76.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The company had revenue of $34.59 billion during the quarter, compared to analysts’ expectations of $34.52 billion. Walgreens Boots Alliance had a net margin of 3.53% and a return on equity of 22.08%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share. Equities analysts predict that Walgreens Boots Alliance will post 5.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.458 per share. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. This represents a $1.83 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, August 19th. Walgreens Boots Alliance’s payout ratio is 30.40%.

In other Walgreens Boots Alliance news, CAO Marco Patrick Anthony Pagni sold 215,323 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $50.48, for a total transaction of $10,869,505.04. Following the completion of the transaction, the chief accounting officer now owns 357,851 shares of the company’s stock, valued at $18,064,318.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.73% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nelson Roberts Investment Advisors LLC acquired a new position in Walgreens Boots Alliance during the first quarter worth about $25,000. Meridian Wealth Management LLC purchased a new position in Walgreens Boots Alliance in the 1st quarter worth approximately $25,000. Weaver Consulting Group acquired a new position in shares of Walgreens Boots Alliance during the 1st quarter worth approximately $27,000. Sageworth Trust Co acquired a new position in shares of Walgreens Boots Alliance during the 2nd quarter worth approximately $27,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Walgreens Boots Alliance in the first quarter valued at approximately $31,000. 59.80% of the stock is currently owned by institutional investors.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

Further Reading: Buyback

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

Receive News & Ratings for Walgreens Boots Alliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walgreens Boots Alliance and related companies with MarketBeat.com's FREE daily email newsletter.