Walgreens Boots Alliance, Inc. (WBA) Downgraded by BidaskClub
BidaskClub cut shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) from a sell rating to a strong sell rating in a report issued on Tuesday morning.
A number of other equities analysts also recently commented on the stock. Needham & Company LLC upgraded shares of Walgreens Boots Alliance from a hold rating to a buy rating and set a $94.00 target price for the company in a report on Friday, June 30th. Pivotal Research set a $85.00 price target on Walgreens Boots Alliance and gave the stock a hold rating in a research note on Sunday, July 2nd. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $77.00 price target (down previously from $89.00) on shares of Walgreens Boots Alliance in a research note on Wednesday, June 28th. Morgan Stanley restated an overweight rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a research note on Monday, July 3rd. Finally, Jefferies Group LLC restated a buy rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $91.94.
Shares of Walgreens Boots Alliance (NASDAQ WBA) opened at 76.95 on Tuesday. The stock’s 50 day moving average is $80.22 and its 200-day moving average is $81.23. Walgreens Boots Alliance has a one year low of $75.18 and a one year high of $89.69. The stock has a market cap of $82.34 billion, a P/E ratio of 19.43 and a beta of 1.25.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 16th. Walgreens Boots Alliance’s dividend payout ratio is presently 40.30%.
Walgreens Boots Alliance declared that its Board of Directors has authorized a stock buyback program on Thursday, June 29th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the pharmacy operator to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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 transaction, the director now directly owns 19,151 shares of the company’s stock, valued at approximately $1,528,058.29. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Hudock Capital Group LLC raised its stake in shares of Walgreens Boots Alliance by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 6 shares during the period. Modera Wealth Management LLC raised its stake in Walgreens Boots Alliance by 0.4% in the 1st quarter. Modera Wealth Management LLC now owns 2,451 shares of the pharmacy operator’s stock valued at $204,000 after purchasing an additional 9 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in Walgreens Boots Alliance by 0.5% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,027 shares of the pharmacy operator’s stock valued at $243,000 after purchasing an additional 16 shares during the last quarter. Sowell Financial Services LLC raised its stake in Walgreens Boots Alliance by 0.6% in the 1st quarter. Sowell Financial Services LLC now owns 2,703 shares of the pharmacy operator’s stock valued at $218,000 after purchasing an additional 17 shares during the last quarter. Finally, WealthTrust Arizona LLC raised its stake in Walgreens Boots Alliance by 0.4% in the 2nd quarter. WealthTrust Arizona LLC now owns 5,264 shares of the pharmacy operator’s stock valued at $412,000 after purchasing an additional 21 shares during the last quarter. 60.16% of the stock is owned by institutional investors and hedge funds.
Walgreens Boots Alliance Company Profile
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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