SVB Wealth LLC Sells 11,957 Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

SVB Wealth LLC reduced its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 30.5% during the first quarter, Holdings Channel.com reports. The firm owned 27,289 shares of the pharmacy operator’s stock after selling 11,957 shares during the quarter. SVB Wealth LLC’s holdings in Walgreens Boots Alliance were worth $592,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of WBA. Quadrant Capital Group LLC increased its stake in shares of Walgreens Boots Alliance by 33.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,494 shares of the pharmacy operator’s stock worth $196,000 after purchasing an additional 1,893 shares in the last quarter. Syon Capital LLC bought a new position in Walgreens Boots Alliance in the 4th quarter valued at $333,000. New York Life Investment Management LLC increased its stake in Walgreens Boots Alliance by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 115,196 shares of the pharmacy operator’s stock worth $3,008,000 after purchasing an additional 690 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Walgreens Boots Alliance during the fourth quarter worth $297,000. Finally, Corient Private Wealth LLC grew its holdings in shares of Walgreens Boots Alliance by 38.9% in the fourth quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock worth $7,325,000 after purchasing an additional 78,523 shares during the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen lowered their price objective on shares of Walgreens Boots Alliance from $35.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Bank of America reaffirmed an “underperform” rating and set a $11.00 price target (down previously from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday, June 28th. Morgan Stanley dropped their price objective on Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Truist Financial decreased their target price on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, Evercore ISI dropped their price target on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.86.

Walgreens Boots Alliance Stock Up 1.0 %

Shares of Walgreens Boots Alliance stock traded up $0.12 on Monday, reaching $11.94. The stock had a trading volume of 15,445,610 shares, compared to its average volume of 15,732,755. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $10.31 billion, a P/E ratio of -1.75, a P/E/G ratio of 0.83 and a beta of 0.72. The company has a 50 day moving average price of $13.94 and a 200 day moving average price of $18.12. Walgreens Boots Alliance, Inc. has a 1 year low of $10.69 and a 1 year high of $30.79.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). The firm had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. Walgreens Boots Alliance’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. As a group, equities research analysts forecast that Walgreens Boots Alliance, Inc. will post 2.87 EPS for the current year.

Walgreens Boots Alliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.38%. The ex-dividend date is Wednesday, August 21st. Walgreens Boots Alliance’s dividend payout ratio is presently -14.84%.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, 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 engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.