Walgreens Boots Alliance (NASDAQ:WBA) Given New $73.00 Price Target at JPMorgan Chase & Co.

Walgreens Boots Alliance (NASDAQ:WBA) had its price target reduced by JPMorgan Chase & Co. from $74.00 to $73.00 in a research note released on Friday, June 28th, BenzingaRatingsTable reports. They currently have an overweight rating on the pharmacy operator’s stock.

A number of other brokerages also recently issued reports on WBA. Wells Fargo & Co boosted their price target on shares of Exxon Mobil from $76.00 to $80.00 and gave the stock a market perform rating in a research report on Wednesday, April 3rd. Pivotal Research dropped their target price on shares of Walgreens Boots Alliance from $70.00 to $60.00 and set a hold rating on the stock in a research report on Wednesday, April 3rd. Guggenheim reiterated a sell rating on shares of Rite Aid in a research report on Thursday, April 18th. Bank of America reiterated a buy rating and set a $25.00 target price on shares of Infineon Technologies in a research report on Monday, June 3rd. Finally, ValuEngine upgraded shares of Yelp from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $63.82.

Shares of Walgreens Boots Alliance stock traded down $0.38 during midday trading on Friday, hitting $54.44. 3,639,466 shares of the company traded hands, compared to its average volume of 5,844,715. The stock has a market capitalization of $49.51 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 1.44 and a beta of 0.82. 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 business has a fifty day simple moving average of $53.42. Walgreens Boots Alliance has a 12 month low of $49.31 and a 12 month high of $86.31.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. Walgreens Boots Alliance had a net margin of 3.53% and a return on equity of 22.08%. The business had revenue of $34.59 billion for the quarter, compared to the consensus estimate of $34.52 billion. During the same period last year, the company earned $1.53 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts predict that Walgreens Boots Alliance will post 5.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a dividend of $0.458 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.83 annualized dividend and a yield of 3.37%. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. Walgreens Boots Alliance’s dividend payout ratio is presently 29.24%.

In other Walgreens Boots Alliance news, CAO Marco Patrick Anthony Pagni sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.05, for a total transaction of $1,061,000.00. Following the sale, the chief accounting officer now directly owns 435,811 shares of the company’s stock, valued at $23,119,773.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.73% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Horan Capital Advisors LLC. bought a new position in shares of Walgreens Boots Alliance in the first quarter worth approximately $25,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of Walgreens Boots Alliance in the first quarter worth approximately $25,000. Meridian Wealth Management LLC bought a new position in shares of Walgreens Boots Alliance in the first quarter worth approximately $25,000. Weaver Consulting Group bought a new position in shares of Walgreens Boots Alliance in the first quarter worth approximately $27,000. Finally, Sageworth Trust Co bought a new position in shares of Walgreens Boots Alliance in the second quarter worth approximately $27,000. 62.27% of the stock is currently owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Company Profile

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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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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