Walgreens Boots Alliance (NASDAQ:WBA) Sees Unusually-High Trading Volume Following Earnings Beat

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 6,251,158 shares changed hands during mid-day trading, a decline of 54% from the previous session’s volume of 13,495,633 shares.The stock last traded at $21.28 and had previously closed at $21.02.

The pharmacy operator reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.38. The firm had revenue of $37.05 billion during the quarter, compared to the consensus estimate of $35.86 billion. Walgreens Boots Alliance had a return on equity of 10.48% and a net margin of 0.40%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share.

Walgreens Boots Alliance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were paid a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 4.79%. Walgreens Boots Alliance’s dividend payout ratio is 151.52%.

Analyst Ratings Changes

A number of research analysts have weighed in on WBA shares. Barclays began coverage on Walgreens Boots Alliance in a research note on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 price target for the company. Morgan Stanley dropped their price target on Walgreens Boots Alliance from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday. TheStreet raised Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a report on Monday, January 8th. SVB Leerink dropped their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, March 18th. Finally, Bank of America dropped their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Walgreens Boots Alliance has an average rating of “Hold” and a consensus target price of $25.00.

Insiders Place Their Bets

In other news, Director Valerie B. Jarrett bought 4,456 shares of the stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $22.44 per share, with a total value of $99,992.64. Following the acquisition, the director now directly owns 4,456 shares in the company, valued at $99,992.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Valerie B. Jarrett purchased 4,456 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $22.44 per share, with a total value of $99,992.64. Following the completion of the purchase, the director now owns 4,456 shares in the company, valued at approximately $99,992.64. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nancy M. Schlichting sold 15,209 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.05, for a total value of $350,567.45. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several institutional investors and hedge funds have recently made changes to their positions in WBA. EverSource Wealth Advisors LLC grew its stake in Walgreens Boots Alliance by 308.4% during the third quarter. EverSource Wealth Advisors LLC now owns 1,119 shares of the pharmacy operator’s stock worth $25,000 after purchasing an additional 845 shares during the period. Highlander Capital Management LLC bought a new position in Walgreens Boots Alliance in the fourth quarter worth approximately $26,000. Pineridge Advisors LLC bought a new position in Walgreens Boots Alliance in the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its holdings in Walgreens Boots Alliance by 1,241.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 981 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Walgreens Boots Alliance by 2,314.5% in the third quarter. FinTrust Capital Advisors LLC now owns 1,328 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

Walgreens Boots Alliance Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.66 and a quick ratio of 0.30. The stock has a fifty day moving average price of $21.75 and a two-hundred day moving average price of $22.29. The company has a market cap of $18.02 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73.

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.