Meeder Asset Management Inc. invests $161,000 in Walgreens Boots Alliance, Inc. (NASDAQ: WBA)
Meeder Asset Management Inc. acquired a new stock position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA – Get Rating) during Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund acquired 3,616 shares of the pharmacy operator, valued at approximately $161,000.
Several other institutional investors and hedge funds have also recently changed their positions in the stock. Rise Advisors LLC acquired a new stake in Walgreens Boots Alliance stock during Q4, valued at approximately $27,000. Iron Horse Wealth Management LLC increased its position in Walgreens Boots Alliance shares by 56.0% during the first quarter. Iron Horse Wealth Management LLC now owns 635 shares of the pharmacy operator valued at $28,000 after acquiring 228 additional shares in the last quarter. City State Bank acquired a new stake in Walgreens Boots Alliance stock during Q4, valued at approximately $30,000. West Bancorporation Inc. acquired a new equity stake in Walgreens Boots Alliance during Q4 valued at approximately $34,000. Finally, Industrial Alliance Investment Management Inc. acquired a new equity stake in Walgreens Boots Alliance during Q4 worth approximately $45,000. Institutional investors hold 57.02% of the company’s shares.
Walgreens Boots Alliance Price Performance
WBA shares opened at $38.22 on Friday. Walgreens Boots Alliance, Inc. has a 1 year minimum of $36.57 and a 1 year maximum of $55.00. The company’s 50-day moving average is $39.32 and its 200-day moving average is $43.29. The company has a market capitalization of $33.03 billion, a price-earnings ratio of 6.16, a PEG ratio of 1.52 and a beta of 0.60. The company has a current ratio of 0.78, a quick ratio of 0.43 and a debt ratio of 0.35.
Walgreens Boots Alliance (NASDAQ:WBA – Get Rating) last announced its results on Thursday, June 30. The drugstore operator reported earnings per share (EPS) of $0.96 for the quarter, beating analysts’ consensus estimate of $0.95 by $0.01. Walgreens Boots Alliance had a net margin of 4.00% and a return on equity of 16.20%. The company posted revenue of $32.60 billion for the quarter, versus analyst estimates of $32.23 billion. In the same period a year earlier, the company had earned earnings per share of $1.51. Walgreens Boots Alliance quarterly revenue decreased 4.2% year-over-year. Sell-side analysts expect Walgreens Boots Alliance, Inc. to post EPS of 5.02 for the current fiscal year.
Walgreens Boots Alliance increases its dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9. Investors of record on Friday August 19 will receive a dividend of $0.48 per share. This represents a dividend of $1.92 on an annualized basis and a dividend yield of 5.02%. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 18. The Walgreens Boots Alliance payout ratio is 30.97%.
A Wall Street analyst gives his opinion
Several brokerages have recently weighed in on WBA. Deutsche Bank Aktiengesellschaft lowered its price target on Walgreens Boots Alliance shares from $46.00 to $44.00 and set a “hold” rating on the stock in a Friday, July 1 research report. Truist Financial cut its price target on Walgreens Boots Alliance shares from $50.00 to $42.00 and set a “hold” rating on the stock in a Friday, July 1 research report. Cowen cut his price target on Walgreens Boots Alliance stock to $49.00 in a Thursday, June 9 research report. Barclays cut its price target on Walgreens Boots Alliance shares from $50.00 to $45.00 and set an “equal weight” rating on the stock in a Friday, June 24 research report. Finally, Royal Bank of Canada cut its price target on Walgreens Boots Alliance stock from $46.00 to $42.00 and set an “industry performance” rating on the stock in a research report Tuesday, July 5. One equity research analyst rated the stock with a sell rating, eight gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.25.
About Walgreens Boots Alliance
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Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and beauty retail business. It operates through two segments, United States and International. The United States segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumer and general merchandise through its pharmacies Retail.
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