Walgreens Boots Alliance, Inc. (NASDAQ:WBA) PT Lowered to $81.00

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) had its target price reduced by Citigroup Inc. from $95.00 to $81.00 in a research report sent to investors on Thursday, November 2nd. Citigroup Inc. currently has a buy rating on the pharmacy operator’s stock.

WBA has been the topic of several other research reports. Credit Suisse Group restated a buy rating and set a $97.00 price objective on shares of Walgreens Boots Alliance in a report on Thursday, July 13th. Leerink Swann set a $86.00 price objective on shares of Walgreens Boots Alliance and gave the stock a buy rating in a report on Friday, July 7th. UBS AG restated a buy rating and set a $96.00 price objective (down previously from $97.00) on shares of Walgreens Boots Alliance in a report on Wednesday, August 23rd. BidaskClub upgraded shares of Walgreens Boots Alliance from a strong sell rating to a sell rating in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada assumed coverage on shares of Walgreens Boots Alliance in a report on Tuesday, September 19th. They set an outperform rating and a $96.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $87.63.

Shares of Walgreens Boots Alliance (NASDAQ:WBA) traded up $0.38 on Thursday, reaching $71.16. 8,050,791 shares of the company traded hands, compared to its average volume of 5,387,792. The company has a market cap of $71,840.00, a P/E ratio of 13.97, a PEG ratio of 1.27 and a beta of 1.20. Walgreens Boots Alliance has a 12-month low of $63.82 and a 12-month high of $88.00. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 0.45.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 EPS for the quarter, topping the consensus estimate of $1.21 by $0.10. The firm had revenue of $30.15 billion for the quarter, compared to the consensus estimate of $29.93 billion. Walgreens Boots Alliance had a net margin of 3.45% and a return on equity of 18.36%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. equities research analysts forecast that Walgreens Boots Alliance will post 5.55 EPS for the current year.

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Walgreens Boots Alliance declared that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 13th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Walgreens Boots Alliance’s payout ratio is 42.33%.

In related news, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total transaction of $184,324.32. Following the completion of the sale, the director now directly owns 16,415 shares of the company’s stock, valued at $1,105,878.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Anthony Lederer purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average cost of $67.00 per share, with a total value of $1,340,000.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at $3,350,000. The disclosure for this purchase can be found here. 13.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hudock Capital Group LLC raised its stake in shares of Walgreens Boots Alliance by 0.5% during the second 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 last quarter. Modera Wealth Management LLC raised its stake in shares of Walgreens Boots Alliance by 0.4% during the first quarter. Modera Wealth Management LLC now owns 2,451 shares of the pharmacy operator’s stock worth $204,000 after buying an additional 9 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Walgreens Boots Alliance by 0.5% during the first quarter. Flagship Harbor Advisors LLC now owns 3,027 shares of the pharmacy operator’s stock worth $243,000 after buying an additional 16 shares during the last quarter. Sowell Financial Services LLC raised its stake in shares of Walgreens Boots Alliance by 0.6% during the first quarter. Sowell Financial Services LLC now owns 2,703 shares of the pharmacy operator’s stock worth $218,000 after buying an additional 17 shares during the last quarter. Finally, WealthTrust Arizona LLC raised its stake in shares of Walgreens Boots Alliance by 0.4% during the second quarter. WealthTrust Arizona LLC now owns 5,264 shares of the pharmacy operator’s stock worth $412,000 after buying an additional 21 shares during the last quarter. 63.35% 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).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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