Walgreens Boots Alliance (NASDAQ:WBA) Shares Down 4.5%

Walgreens Boots Alliance Inc (NASDAQ:WBA)’s share price dropped 4.5% during trading on Wednesday . The company traded as low as $50.36 and last traded at $50.70, approximately 3,434,283 shares traded hands during trading. A decline of 43% from the average daily volume of 6,002,616 shares. The stock had previously closed at $53.07.

WBA has been the topic of a number of analyst reports. Bank of America reduced their price objective on Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Zacks Investment Research downgraded Walgreens Boots Alliance from a “hold” rating to a “sell” rating and set a $53.00 target price on the stock. in a research report on Monday, June 10th. Guggenheim started coverage on Walgreens Boots Alliance in a research report on Thursday, April 18th. They issued a “neutral” rating and a $59.00 target price on the stock. ValuEngine upgraded Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Morgan Stanley set a $61.00 target price on Walgreens Boots Alliance and gave the company a “hold” rating in a research report on Tuesday, May 14th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Walgreens Boots Alliance presently has a consensus rating of “Hold” and a consensus price target of $63.82.

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.37 and a current ratio of 0.76. The stock has a market cap of $46.88 billion, a PE ratio of 8.42, a PEG ratio of 1.32 and a beta of 0.81. The firm’s fifty day simple moving average is $54.33.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. The firm had revenue of $34.59 billion for the quarter, compared to the consensus estimate of $34.52 billion. Walgreens Boots Alliance had a return on equity of 22.08% and a net margin of 3.53%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 EPS. On average, equities research analysts expect that Walgreens Boots Alliance Inc will post 5.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a $0.458 dividend. This represents a $1.83 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, August 19th. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. Walgreens Boots Alliance’s payout ratio is currently 29.24%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBA. Horan Capital Advisors LLC. acquired a new position in Walgreens Boots Alliance during the 1st quarter worth $25,000. Nelson Roberts Investment Advisors LLC acquired a new position in Walgreens Boots Alliance during the 1st quarter worth $25,000. Meridian Wealth Management LLC acquired a new position in Walgreens Boots Alliance during the 1st quarter worth $25,000. Weaver Consulting Group acquired a new position in Walgreens Boots Alliance during the 1st quarter worth $27,000. Finally, Sageworth Trust Co acquired a new position in Walgreens Boots Alliance during the 2nd quarter worth $27,000. 61.97% of the stock is owned by hedge funds and other institutional investors.

About Walgreens Boots Alliance (NASDAQ:WBA)

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.

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