Royal Bank of Canada Trims Walgreens Boots Alliance (NASDAQ:WBA) Target Price to $13.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target reduced by Royal Bank of Canada from $22.00 to $13.00 in a research note released on Tuesday, Benzinga reports. They currently have a sector perform rating on the pharmacy operator’s stock.

WBA has been the subject of several other research reports. TD Cowen lowered their price objective 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. Evercore ISI reduced their target price on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating for the company in a research note on Friday, June 28th. Morgan Stanley reduced their target price on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. cut their price target on shares of Walgreens Boots Alliance from $30.00 to $20.00 and set an overweight rating on the stock in a report on Monday, July 1st. 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 report 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 data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $17.71.

Walgreens Boots Alliance Stock Up 1.4 %

NASDAQ:WBA opened at $11.26 on Tuesday. The firm’s 50 day simple moving average is $15.97 and its 200 day simple moving average is $19.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.31. Walgreens Boots Alliance has a one year low of $10.85 and a one year high of $31.32. The company has a market cap of $9.72 billion, a PE ratio of -1.67, a P/E/G ratio of 0.77 and a beta of 0.72.

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 firm had revenue of $36.40 billion during the quarter, compared to analyst estimates 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 firm posted $1.00 EPS. On average, research analysts anticipate that Walgreens Boots Alliance will post 2.87 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.88%. The ex-dividend date was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is -14.84%.

Insider Buying and Selling

In other Walgreens Boots Alliance news, Director Inderpal S. Bhandari purchased 3,000 shares of Walgreens Boots Alliance stock in a transaction on Thursday, April 11th. The shares were 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 is available at this link. 17.40% of the stock is owned by company insiders.

Institutional Trading of Walgreens Boots Alliance

A number of institutional investors have recently made changes to their positions in the stock. Fulton Bank N.A. lifted its stake in Walgreens Boots Alliance by 0.5% in the fourth quarter. Fulton Bank N.A. now owns 107,071 shares of the pharmacy operator’s stock worth $2,796,000 after acquiring an additional 523 shares during the period. Insight Folios Inc increased its holdings in Walgreens Boots Alliance by 5.8% in the 4th quarter. Insight Folios Inc now owns 9,640 shares of the pharmacy operator’s stock worth $252,000 after buying an additional 525 shares in the last quarter. Atlas Brown Inc. grew its stake in shares of Walgreens Boots Alliance by 1.8% during 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 during the period. Pinnacle Financial Partners Inc grew its stake in shares of Walgreens Boots Alliance by 4.9% during 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 during the period. Finally, Westpac Banking Corp grew its stake in shares of Walgreens Boots Alliance by 10.1% during 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 during the period. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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.