Swedbank AB Invests $16.37 Million in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) (2024)

Swedbank AB bought a new position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 754,500 shares of the pharmacy operator's stock, valued at approximately $16,365,000. Swedbank AB owned 0.09% of Walgreens Boots Alliance at the end of the most recent quarter.

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A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Walgreens Boots Alliance by 115.7% in the fourth quarter. Blue Trust Inc. now owns 1,775 shares of the pharmacy operator's stock worth $46,000 after buying an additional 952 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in Walgreens Boots Alliance by 4.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 11,866 shares of the pharmacy operator's stock worth $310,000 after buying an additional 555 shares during the period. State of Michigan Retirement System increased its stake in shares of Walgreens Boots Alliance by 2.0% during the fourth quarter. State of Michigan Retirement System now owns 251,300 shares of the pharmacy operator's stock valued at $6,561,000 after purchasing an additional 4,900 shares in the last quarter. Stonegate Investment Group LLC bought a new position in shares of Walgreens Boots Alliance during the fourth quarter valued at approximately $224,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Walgreens Boots Alliance by 1,241.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator's stock valued at $28,000 after purchasing an additional 981 shares in the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WBA. Evercore ISI reduced their price target on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an "in-line" rating for the company in a research report on Friday, June 28th. Royal Bank of Canada reduced their price target on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their price target on shares of Walgreens Boots Alliance from $30.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, July 1st. TD Cowen reduced their price target 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. Finally, UBS Group cut their target price on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $16.86.

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What's Behind Walgreens Stock Plunge: What Investors Can Do Next

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Walgreens Boots Alliance Stock Down 2.8 %

Shares of WBA traded down $0.33 during mid-day trading on Friday, hitting $11.48. The company's stock had a trading volume of 14,299,421 shares, compared to its average volume of 15,728,005. The company's 50-day moving average is $13.46 and its 200-day moving average is $17.79. Walgreens Boots Alliance, Inc. has a 52-week low of $10.69 and a 52-week high of $30.79. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of -1.70, a PEG ratio of 0.83 and a beta of 0.72. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Walgreens Stock Falls on Q3 Earnings Miss, Strategic Shifts Ahead

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

Walgreens Boots Alliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.00 annualized dividend and a yield of 8.71%. Walgreens Boots Alliance's dividend payout ratio (DPR) is -14.84%.

Walgreens Boots Alliance Company Profile

(Free Report)

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.

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