Walgreens Boots Alliance, Inc. (WBA) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating on the pharmacy operator’s stock.

Other analysts also recently issued research reports about the company. Deutsche Bank AG restated a buy rating and issued a $92.00 target price on shares of Walgreens Boots Alliance in a research report on Wednesday, March 22nd. Jefferies Group LLC reiterated a buy rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a research report on Friday, March 31st. Leerink Swann set a $90.00 price objective on Walgreens Boots Alliance and gave the company a buy rating in a research report on Tuesday, April 11th. Guggenheim reiterated a buy rating and issued a $100.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, April 6th. Finally, Zacks Investment Research upgraded Walgreens Boots Alliance from a sell rating to a hold rating in a research report on Thursday, March 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $89.64.

Walgreens Boots Alliance (WBA) traded up 0.61% during mid-day trading on Tuesday, reaching $77.73. 2,636,491 shares of the company’s stock were exchanged. The stock has a market cap of $84.02 billion, a price-to-earnings ratio of 19.98 and a beta of 1.20. Walgreens Boots Alliance has a one year low of $76.26 and a one year high of $88.00. The stock has a 50-day moving average of $82.60 and a 200-day moving average of $83.69.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Wednesday, April 5th. The pharmacy operator reported $1.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.36. The company had revenue of $29.45 billion during the quarter, compared to the consensus estimate of $30.17 billion. Walgreens Boots Alliance had a return on equity of 16.86% and a net margin of 3.66%. Walgreens Boots Alliance’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. On average, equities research analysts anticipate that Walgreens Boots Alliance will post $4.97 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Thursday, May 18th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.94%. Walgreens Boots Alliance’s dividend payout ratio is presently 38.36%.

In related news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $85.89, for a total transaction of $234,995.04. Following the completion of the transaction, the director now owns 21,887 shares in the company, valued at $1,879,874.43. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.50% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Hudock Capital Group LLC boosted its stake in shares of Walgreens Boots Alliance by 0.4% in the first quarter. Hudock Capital Group LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 5 shares during the last quarter. Modera Wealth Management LLC boosted its stake in shares of Walgreens Boots Alliance by 0.4% in the first quarter. Modera Wealth Management LLC now owns 2,451 shares of the pharmacy operator’s stock valued at $204,000 after buying an additional 9 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Walgreens Boots Alliance by 0.5% in the first quarter. Flagship Harbor Advisors LLC now owns 3,027 shares of the pharmacy operator’s stock valued at $243,000 after buying an additional 16 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Walgreens Boots Alliance by 0.6% in the first quarter. Sowell Financial Services LLC now owns 2,703 shares of the pharmacy operator’s stock valued at $218,000 after buying an additional 17 shares during the last quarter. Finally, Glassman Wealth Services boosted its stake in shares of Walgreens Boots Alliance by 0.6% in the fourth quarter. Glassman Wealth Services now owns 2,898 shares of the pharmacy operator’s stock valued at $240,000 after buying an additional 18 shares during the last quarter. Institutional investors own 60.63% of the company’s stock.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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