Acorn Financial Advisory Services Inc. ADV Takes $93,000 Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Acorn Financial Advisory Services Inc. ADV purchased a new position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,338 shares of the pharmacy operator’s stock, valued at approximately $93,000.

A number of other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new stake in Walgreens Boots Alliance during the 1st quarter worth $35,000. Iron Horse Wealth Management LLC raised its holdings in Walgreens Boots Alliance by 162.5% in the second quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after acquiring an additional 1,300 shares in the last quarter. Blue Trust Inc. raised its holdings in Walgreens Boots Alliance by 87.0% during the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 1,081 shares in the last quarter. Continuum Advisory LLC raised its holdings in Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Walgreens Boots Alliance during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial cut their price target on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, October 7th. TD Cowen decreased their target price on Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Barclays upped their target price on Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their target price on Walgreens Boots Alliance from $7.50 to $10.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group decreased their price target on Walgreens Boots Alliance from $19.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.88.

Walgreens Boots Alliance Stock Performance

NASDAQ:WBA opened at $9.07 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.37 and a current ratio of 0.68. The stock’s 50 day moving average price is $9.18 and its two-hundred day moving average price is $12.21. Walgreens Boots Alliance, Inc. has a 12-month low of $8.22 and a 12-month high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $35.75 billion. Walgreens Boots Alliance had a positive return on equity of 14.23% and a negative net margin of 5.85%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, equities research analysts predict that Walgreens Boots Alliance, Inc. will post 1.53 EPS for the current year.

Walgreens Boots Alliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.03%. The ex-dividend date of this dividend is Monday, November 18th. Walgreens Boots Alliance’s payout ratio is presently -9.99%.

Walgreens Boots Alliance Company Profile

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.