Envestnet Asset Management Inc. Trims Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Envestnet Asset Management Inc. cut its holdings in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 52.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,349 shares of the pharmacy operator’s stock after selling 183,184 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Walgreens Boots Alliance were worth $1,580,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. First Financial Corp IN grew its stake in shares of Walgreens Boots Alliance by 49.2% during the 4th quarter. First Financial Corp IN now owns 2,685 shares of the pharmacy operator’s stock worth $25,000 after purchasing an additional 885 shares during the period. Golden State Wealth Management LLC acquired a new stake in Walgreens Boots Alliance in the 4th quarter valued at $26,000. Riverview Trust Co grew its stake in Walgreens Boots Alliance by 123.8% in the 4th quarter. Riverview Trust Co now owns 2,874 shares of the pharmacy operator’s stock valued at $27,000 after acquiring an additional 1,590 shares during the period. Venturi Wealth Management LLC acquired a new stake in Walgreens Boots Alliance in the 4th quarter valued at $28,000. Finally, Independence Bank of Kentucky acquired a new stake in Walgreens Boots Alliance in the 4th quarter valued at $39,000. 58.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WBA has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Walgreens Boots Alliance in a research note on Sunday. They issued a “hold” rating on the stock. Truist Financial lowered their target price on shares of Walgreens Boots Alliance from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Bank of America lifted their price target on Walgreens Boots Alliance from $7.50 to $8.50 and gave the stock an “underperform” rating in a report on Monday, January 13th. Evercore ISI boosted their price target on shares of Walgreens Boots Alliance from $9.00 to $12.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating and decreased their price target for the company from $11.00 to $9.00 in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.59.

Walgreens Boots Alliance Price Performance

Shares of NASDAQ:WBA opened at $10.97 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.64 and a quick ratio of 0.30. The firm has a market capitalization of $9.49 billion, a P/E ratio of -1.07, a P/E/G ratio of 1.31 and a beta of 0.67. Walgreens Boots Alliance, Inc. has a 12 month low of $8.08 and a 12 month high of $18.83. The company’s fifty day moving average price is $10.95 and its 200 day moving average price is $10.24.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Tuesday, April 8th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Walgreens Boots Alliance had a negative net margin of 5.87% and a positive return on equity of 17.61%. The business had revenue of $38.59 billion for the quarter, compared to analyst estimates of $37.90 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current fiscal year.

Walgreens Boots Alliance 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.