Walgreens Boots Alliance (NASDAQ:WBA) Upgraded to Outperform by Cowen

Cowen upgraded shares of Walgreens Boots Alliance (NASDAQ:WBAGet Rating) from a market perform rating to an outperform rating in a research note released on Tuesday morning, Marketbeat reports. They currently have $54.00 target price on the pharmacy operator’s stock, up from their prior target price of $43.00.

WBA has been the topic of a number of other research reports. Royal Bank of Canada dropped their price objective on shares of Walgreens Boots Alliance from $42.00 to $36.00 and set a sector perform rating on the stock in a report on Wednesday, October 19th. Evercore ISI dropped their price objective on shares of Walgreens Boots Alliance from $41.00 to $32.00 and set an in-line rating on the stock in a report on Monday, October 3rd. StockNews.com downgraded shares of Walgreens Boots Alliance from a buy rating to a hold rating in a report on Wednesday, October 5th. UBS Group dropped their price objective on shares of Walgreens Boots Alliance from $40.00 to $37.00 and set a neutral rating on the stock in a report on Friday, October 7th. Finally, Credit Suisse Group dropped their price objective on shares of Walgreens Boots Alliance from $43.00 to $42.00 and set a neutral rating on the stock in a report on Friday, October 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $43.23.

Walgreens Boots Alliance Stock Performance

Shares of WBA stock opened at $41.79 on Tuesday. The company has a 50 day moving average price of $35.22 and a 200-day moving average price of $38.10. Walgreens Boots Alliance has a 52 week low of $30.39 and a 52 week high of $55.00. The firm has a market capitalization of $36.14 billion, a PE ratio of 8.36, a P/E/G ratio of 1.81 and a beta of 0.71. The company has a quick ratio of 0.38, a current ratio of 0.75 and a debt-to-equity ratio of 0.36.

Walgreens Boots Alliance (NASDAQ:WBAGet Rating) last announced its quarterly earnings results on Thursday, October 13th. The pharmacy operator reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $32.45 billion during the quarter, compared to analyst estimates of $32.17 billion. Walgreens Boots Alliance had a net margin of 3.27% and a return on equity of 14.39%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, equities research analysts expect that Walgreens Boots Alliance will post 4.5 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Tuesday, November 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Monday, November 14th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 38.40%.

Insider Transactions at Walgreens Boots Alliance

In other news, EVP Kevin M. Ban sold 10,303 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $40.19, for a total value of $414,077.57. Following the transaction, the executive vice president now owns 27,916 shares of the company’s stock, valued at $1,121,944.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Kevin M. Ban sold 10,303 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $40.19, for a total value of $414,077.57. Following the transaction, the executive vice president now owns 27,916 shares of the company’s stock, valued at $1,121,944.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nancy M. Schlichting sold 16,570 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $39.89, for a total transaction of $660,977.30. Following the completion of the transaction, the director now directly owns 5,515 shares in the company, valued at approximately $219,993.35. 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

Large investors have recently bought and sold shares of the business. GoalVest Advisory LLC increased its position in Walgreens Boots Alliance by 10,828.6% in the second quarter. GoalVest Advisory LLC now owns 765 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 758 shares during the last quarter. Sage Private Wealth Group LLC bought a new stake in Walgreens Boots Alliance in the third quarter worth $25,000. WFA of San Diego LLC bought a new stake in Walgreens Boots Alliance in the second quarter worth $32,000. EverSource Wealth Advisors LLC increased its position in Walgreens Boots Alliance by 289.4% in the third quarter. EverSource Wealth Advisors LLC now owns 915 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 680 shares during the last quarter. Finally, Tompkins Financial Corp increased its position in Walgreens Boots Alliance by 215.7% in the first quarter. Tompkins Financial Corp now owns 947 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 57.33% of the company’s stock.

About Walgreens Boots Alliance

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Walgreens Boots Alliance, Inc operates as an integrated healthcare, pharmacy, and retailer in the United States (U.S.), 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 sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.

Further Reading

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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