Walgreens Boots Alliance, Inc. (WBA) Rating Reiterated by Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in a research report report published on Sunday morning. The brokerage currently has a $94.00 price objective on the pharmacy operator’s stock.
WBA has been the topic of several other research reports. BidaskClub lowered Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Saturday, June 24th. Leerink Swann set a $86.00 price target on Walgreens Boots Alliance and gave the stock a buy rating in a report on Friday, July 7th. Credit Suisse Group reiterated a buy rating and set a $97.00 price target on shares of Walgreens Boots Alliance in a report on Thursday, July 13th. Pivotal Research set a $85.00 price target on Walgreens Boots Alliance and gave the stock a hold rating in a report on Sunday, July 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a neutral rating and set a $77.00 price target (down previously from $89.00) on shares of Walgreens Boots Alliance in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $91.81.
Shares of Walgreens Boots Alliance (WBA) opened at 82.73 on Friday. The stock has a 50 day moving average of $80.98 and a 200 day moving average of $82.02. Walgreens Boots Alliance has a 52 week low of $75.18 and a 52 week high of $89.69. The stock has a market cap of $88.53 billion, a P/E ratio of 20.89 and a beta of 1.26.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Thursday, June 29th. The pharmacy operator reported $1.33 EPS for the quarter, topping the consensus estimate of $1.30 by $0.03. Walgreens Boots Alliance had a return on equity of 17.34% and a net margin of 3.69%. The business had revenue of $30.12 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Walgreens Boots Alliance will post $5.00 earnings per share for the current year.
Walgreens Boots Alliance announced that its board has approved a stock buyback program on Thursday, June 29th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the pharmacy operator to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 18th were issued a $0.40 dividend. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 16th. Walgreens Boots Alliance’s dividend payout ratio is presently 40.30%.
In other news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $79.79, for a total transaction of $218,305.44. Following the completion of the sale, the director now owns 19,151 shares in the company, valued at $1,528,058.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Pathstone Family Office LLC raised its position in Walgreens Boots Alliance by 226.6% in the second quarter. Pathstone Family Office LLC now owns 1,179 shares of the pharmacy operator’s stock worth $1,969,000 after acquiring an additional 818 shares in the last quarter. Hudock Capital Group LLC raised its position in Walgreens Boots Alliance by 0.4% in the first quarter. Hudock Capital Group LLC now owns 1,300 shares of the pharmacy operator’s stock worth $108,000 after acquiring an additional 5 shares in the last quarter. Westside Investment Management Inc. raised its position in Walgreens Boots Alliance by 10.4% in the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after acquiring an additional 125 shares in the last quarter. Tarbox Group Inc. raised its position in Walgreens Boots Alliance by 288.3% in the first quarter. Tarbox Group Inc. now owns 1,355 shares of the pharmacy operator’s stock worth $113,000 after acquiring an additional 1,006 shares in the last quarter. Finally, Reilly Financial Advisors LLC raised its position in Walgreens Boots Alliance by 7.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,367 shares of the pharmacy operator’s stock worth $107,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 60.18% of the company’s stock.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).
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