Cornerstone Advisors Inc. increased its position in shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) by 47.5% in the second quarter, HoldingsChannel.com reports. The firm owned 898 shares of the pharmacy operator’s stock after acquiring an additional 289 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Walgreens Boots Alliance were worth $38,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WBA. Private Ocean LLC acquired a new position in shares of Walgreens Boots Alliance during the first quarter worth $25,000. Balentine LLC acquired a new position in shares of Walgreens Boots Alliance during the first quarter worth $29,000. Pearl River Capital LLC acquired a new position in shares of Walgreens Boots Alliance during the first quarter worth $35,000. Campbell Wealth Management acquired a new position in shares of Walgreens Boots Alliance during the second quarter worth $35,000. Finally, Perennial Advisors LLC acquired a new position in shares of Walgreens Boots Alliance during the first quarter worth $36,000. Hedge funds and other institutional investors own 57.12% of the company’s stock.

A number of equities analysts recently commented on the stock. Deutsche Bank lowered their target price on shares of Walgreens Boots Alliance from $43.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, July 10th. JPMorgan Chase & Co. decreased their price objective on shares of Walgreens Boots Alliance from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, April 3rd. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Friday, May 15th. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “strong sell” rating and set a $42.00 price objective for the company. in a research note on Friday, July 17th. Finally, Cowen decreased their price objective on shares of Walgreens Boots Alliance from $54.00 to $48.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Walgreens Boots Alliance currently has an average rating of “Hold” and an average price target of $46.00.

Shares of NASDAQ:WBA opened at $40.71 on Friday. The company has a 50-day simple moving average of $41.39 and a 200-day simple moving average of $45.26. Walgreens Boots Alliance Inc has a one year low of $36.65 and a one year high of $64.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.33 and a current ratio of 0.69. The stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 1.76 and a beta of 0.55.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, July 9th. The pharmacy operator reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.27). Walgreens Boots Alliance had a net margin of 0.55% and a return on equity of 19.43%. The business had revenue of $34.63 billion during the quarter, compared to analysts’ expectations of $34.32 billion. During the same period in the previous year, the company posted $1.47 earnings per share. Walgreens Boots Alliance’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts forecast that Walgreens Boots Alliance Inc will post 4.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Wednesday, August 19th will be issued a $0.4675 dividend. This represents a $1.87 dividend on an annualized basis and a dividend yield of 4.59%. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, August 18th. Walgreens Boots Alliance’s dividend payout ratio is presently 30.55%.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

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Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

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