Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 23.4% during the third quarter, HoldingsChannel reports. The firm owned 340,431 shares of the pharmacy operator’s stock after purchasing an additional 64,586 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Walgreens Boots Alliance were worth $3,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Redwood Investment Management LLC increased its holdings in shares of Walgreens Boots Alliance by 0.9% in the first quarter. Redwood Investment Management LLC now owns 99,661 shares of the pharmacy operator’s stock valued at $2,162,000 after purchasing an additional 850 shares during the period. Inlet Private Wealth LLC increased its holdings in shares of Walgreens Boots Alliance by 1.9% in the second quarter. Inlet Private Wealth LLC now owns 47,820 shares of the pharmacy operator’s stock valued at $578,000 after purchasing an additional 900 shares during the period. Capital Investment Counsel Inc boosted its stake in shares of Walgreens Boots Alliance by 6.6% in the second quarter. Capital Investment Counsel Inc now owns 15,340 shares of the pharmacy operator’s stock valued at $186,000 after buying an additional 950 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Walgreens Boots Alliance by 71.2% in the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,020 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Walgreens Boots Alliance by 1.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 65,690 shares of the pharmacy operator’s stock valued at $795,000 after buying an additional 1,038 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

Walgreens Boots Alliance Stock Performance

Walgreens Boots Alliance stock opened at $8.66 on Monday. The firm has a market capitalization of $7.49 billion, a P/E ratio of -0.87, a PEG ratio of 1.14 and a beta of 0.69. The stock has a fifty day moving average price of $9.14 and a 200 day moving average price of $11.51. Walgreens Boots Alliance, Inc. has a 52 week low of $8.08 and a 52 week high of $27.05. The company has a current ratio of 0.68, a quick ratio of 0.37 and a debt-to-equity ratio of 0.67.

Walgreens Boots Alliance (NASDAQ:WBA) last released 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 firm had revenue of $37.50 billion during the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. Equities research analysts anticipate that Walgreens Boots Alliance, Inc. will post 1.53 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 11.55%. Walgreens Boots Alliance’s dividend payout ratio is presently -9.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WBA shares. Morgan Stanley decreased their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Bank of America decreased their price target on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. UBS Group lifted their price target on Walgreens Boots Alliance from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. TD Cowen decreased their price target on Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.88.

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.