Walgreens Boots Alliance (NASDAQ:WBA) Receives Hold Rating from Cleveland Research
Cleveland Research reissued their hold rating on shares of Walgreens Boots Alliance (NASDAQ:WBA) in a research note issued to investors on Monday morning, TipRanks reports.
Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Walgreens Boots Alliance from a strong sell rating to a sell rating in a research note on Wednesday. Morgan Stanley dropped their price target on Walgreens Boots Alliance from $61.00 to $58.00 and set an equal weight rating on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. cut their price target on Walgreens Boots Alliance from $74.00 to $73.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Zacks Investment Research lowered Walgreens Boots Alliance from a hold rating to a sell rating and set a $53.00 price objective for the company. in a research report on Monday, June 10th. Finally, ValuEngine upgraded Walgreens Boots Alliance from a strong sell rating to a sell rating in a research note on Friday, June 28th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $63.65.
Shares of NASDAQ:WBA traded up $1.18 during midday trading on Monday, reaching $58.06. The company’s stock had a trading volume of 5,844,276 shares, compared to its average volume of 5,866,319. The company has a quick ratio of 0.37, a current ratio of 0.76 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $52.32 and a 200-day moving average of $55.15. The firm has a market capitalization of $50.21 billion, a P/E ratio of 9.64, a PEG ratio of 1.39 and a beta of 0.88. Walgreens Boots Alliance has a 12-month low of $49.03 and a 12-month high of $86.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a $0.458 dividend. The ex-dividend date of this dividend is Monday, August 19th. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. This represents a $1.83 annualized dividend and a yield of 3.16%. Walgreens Boots Alliance’s dividend payout ratio is 30.40%.
In other Walgreens Boots Alliance news, CAO Marco Patrick Anthony Pagni sold 215,323 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $50.48, for a total transaction of $10,869,505.04. Following the sale, the chief accounting officer now directly owns 357,851 shares in the company, valued at approximately $18,064,318.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 15.73% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Walgreens Boots Alliance by 263.4% during the first quarter. The Manufacturers Life Insurance Company now owns 3,306,439 shares of the pharmacy operator’s stock valued at $209,198,000 after buying an additional 2,396,640 shares during the last quarter. Nuveen Asset Management LLC raised its position in Walgreens Boots Alliance by 216.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,281,316 shares of the pharmacy operator’s stock worth $124,720,000 after buying an additional 1,560,622 shares during the last quarter. Morgan Stanley raised its position in Walgreens Boots Alliance by 36.2% in the 2nd quarter. Morgan Stanley now owns 4,913,030 shares of the pharmacy operator’s stock worth $268,595,000 after buying an additional 1,304,949 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Walgreens Boots Alliance by 11.0% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,837,465 shares of the pharmacy operator’s stock valued at $647,154,000 after acquiring an additional 1,169,600 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Walgreens Boots Alliance by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 11,529,136 shares of the pharmacy operator’s stock valued at $786,522,000 after acquiring an additional 834,241 shares during the period. Hedge funds and other institutional investors own 59.80% of the company’s stock.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.
Further Reading: Cost of Equity For A Business, Investors
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