Walgreens Boots Alliance, Inc. $WBA Stake Cut by Independent Wealth Network Inc.

Independent Wealth Network Inc. reduced its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 21.5% during the second quarter, Holdings Channel.com reports. The fund owned 11,145 shares of the pharmacy operator’s stock after selling 3,055 shares during the quarter. Independent Wealth Network Inc.’s holdings in Walgreens Boots Alliance were worth $128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WBA. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Walgreens Boots Alliance by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,428 shares of the pharmacy operator’s stock worth $978,000 after purchasing an additional 4,926 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Walgreens Boots Alliance by 6.6% during the first quarter. Raymond James Financial Inc. now owns 1,106,693 shares of the pharmacy operator’s stock worth $12,362,000 after buying an additional 68,640 shares during the period. Concurrent Investment Advisors LLC raised its stake in Walgreens Boots Alliance by 28.2% in the first quarter. Concurrent Investment Advisors LLC now owns 13,924 shares of the pharmacy operator’s stock valued at $156,000 after buying an additional 3,064 shares during the period. Teacher Retirement System of Texas acquired a new stake in Walgreens Boots Alliance during the 1st quarter worth approximately $1,199,000. Finally, TIG Advisors LLC raised its holdings in shares of Walgreens Boots Alliance by 2,729.3% during the 1st quarter. TIG Advisors LLC now owns 2,181,026 shares of the pharmacy operator’s stock worth $24,362,000 after buying an additional 2,103,940 shares in the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WBA has been the subject of several analyst reports. Morgan Stanley reissued an “underweight” rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. UBS Group reissued a “neutral” rating on shares of Walgreens Boots Alliance in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $10.15.

Walgreens Boots Alliance Price Performance

WBA stock opened at $11.98 on Friday. Walgreens Boots Alliance, Inc. has a 52 week low of $8.08 and a 52 week high of $13.25. The stock has a market capitalization of $10.37 billion, a P/E ratio of -1.64, a P/E/G ratio of 1.42 and a beta of 0.80. The company has a quick ratio of 0.32, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $11.89 and a 200-day simple moving average of $11.43.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, June 26th. The pharmacy operator reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $38.99 billion for the quarter, compared to analyst estimates of $36.72 billion. Walgreens Boots Alliance had a negative net margin of 4.07% and a positive return on equity of 17.66%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Equities analysts forecast that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current fiscal year.

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.