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 published on Tuesday morning, The Fly reports. The firm currently has $54.00 target price on the pharmacy operator’s stock, up from their previous target price of $43.00.

WBA has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of Walgreens Boots Alliance from a neutral rating to an overweight rating and set a $42.00 price objective on the stock in a research note on Friday, November 18th. Evercore ISI reduced their target price on shares of Walgreens Boots Alliance from $41.00 to $32.00 and set an in-line rating for the company in a report on Monday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of Walgreens Boots Alliance from a hold rating to a buy rating and increased their target price for the stock from $41.00 to $50.00 in a report on Friday, November 11th. Mizuho reduced their target price on shares of Walgreens Boots Alliance to $36.00 in a report on Thursday, October 13th. Finally, Truist Financial increased their target price on shares of Walgreens Boots Alliance from $38.00 to $44.00 in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Walgreens Boots Alliance has a consensus rating of Hold and an average price target of $43.23.

Walgreens Boots Alliance Price Performance

Shares of NASDAQ:WBA opened at $41.79 on Tuesday. The firm’s 50 day moving average price is $35.22 and its 200-day moving average price is $38.10. Walgreens Boots Alliance has a twelve month low of $30.39 and a twelve month high of $55.00. The company has a quick ratio of 0.38, a current ratio of 0.75 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $36.14 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.81 and a beta of 0.71.

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

Walgreens Boots Alliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Tuesday, November 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis 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 Activity at Walgreens Boots Alliance

In related news, EVP Kevin M. Ban sold 10,303 shares of the firm’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 completion of the transaction, the executive vice president now directly 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 SEC, which is available at the SEC website. In related news, Director Nancy M. Schlichting sold 16,570 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $39.89, for a total value of $660,977.30. Following the completion of the sale, the director now directly owns 5,515 shares in the company, valued at $219,993.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kevin M. Ban sold 10,303 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $40.19, for a total value of $414,077.57. Following the completion of the sale, the executive vice president now owns 27,916 shares of the company’s stock, valued at $1,121,944.04. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by insiders.

Institutional Trading of Walgreens Boots Alliance

A number of institutional investors have recently bought and sold shares of WBA. Sage Private Wealth Group LLC bought a new stake in Walgreens Boots Alliance in the third quarter worth $25,000. GoalVest Advisory LLC lifted its position in shares of Walgreens Boots Alliance by 10,828.6% during 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. EverSource Wealth Advisors LLC lifted its position in shares of Walgreens Boots Alliance by 289.4% during 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. Bank of New Hampshire lifted its position in shares of Walgreens Boots Alliance by 56.4% during the third quarter. Bank of New Hampshire now owns 960 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 346 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its position in shares of Walgreens Boots Alliance by 35.7% during the third quarter. Blume Capital Management Inc. now owns 950 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 250 shares during the last quarter. 57.33% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Company Profile

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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.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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