Inlet Private Wealth LLC Sells 27,920 Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Inlet Private Wealth LLC decreased its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 58.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,900 shares of the pharmacy operator’s stock after selling 27,920 shares during the quarter. Inlet Private Wealth LLC’s holdings in Walgreens Boots Alliance were worth $178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Walgreens Boots Alliance in the first quarter valued at $35,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Walgreens Boots Alliance by 162.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 1,300 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Walgreens Boots Alliance by 60.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,130 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 802 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Walgreens Boots Alliance by 87.0% during the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in Walgreens Boots Alliance by 71.2% in the 2nd quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Stock Performance

WBA stock traded down $0.51 on Thursday, reaching $10.56. The company’s stock had a trading volume of 18,757,956 shares, compared to its average volume of 17,057,707. Walgreens Boots Alliance, Inc. has a 52 week low of $8.22 and a 52 week high of $27.05. The company has a market capitalization of $9.12 billion, a P/E ratio of -1.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. The firm has a fifty day moving average of $9.41 and a two-hundred day moving average of $13.22. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.31.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 12.63% and a negative net margin of 3.99%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. As a group, analysts predict that Walgreens Boots Alliance, Inc. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped 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. Bank of America lowered their price objective on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. TD Cowen lowered their price objective on Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. UBS Group upped 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. Finally, 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. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.38.

Walgreens Boots Alliance Company 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.