Torch Wealth Management LLC Makes New Investment in Walgreens Boots Alliance Inc (NASDAQ:WBA)

Torch Wealth Management LLC acquired a new position in Walgreens Boots Alliance Inc (NASDAQ:WBA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,650 shares of the pharmacy operator’s stock, valued at approximately $1,074,000.

Other large investors have also modified their holdings of the company. Horan Capital Advisors LLC. purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter worth about $25,000. Nelson Roberts Investment Advisors LLC purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter worth about $25,000. Meridian Wealth Management LLC purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter worth about $25,000. Weaver Consulting Group purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter worth about $27,000. Finally, Sageworth Trust Co purchased a new position in shares of Walgreens Boots Alliance during the 2nd quarter worth about $27,000. 61.97% of the stock is owned by institutional investors and hedge funds.

Walgreens Boots Alliance stock traded down $1.11 during trading hours on Thursday, hitting $49.30. The company had a trading volume of 3,871,919 shares, compared to its average volume of 4,389,901. The company has a market cap of $46.96 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 1.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.37 and a current ratio of 0.76. Walgreens Boots Alliance Inc has a 1 year low of $49.31 and a 1 year high of $86.31. The business’s 50-day simple moving average is $54.33.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. Walgreens Boots Alliance had a net margin of 3.53% and a return on equity of 22.08%. The business had revenue of $34.59 billion during the quarter, compared to analyst estimates of $34.52 billion. During the same quarter in the previous year, the business posted $1.53 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts forecast that Walgreens Boots Alliance Inc will post 5.99 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be issued a $0.458 dividend. The ex-dividend date is Monday, August 19th. This represents a $1.83 annualized dividend and a dividend yield of 3.72%. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. Walgreens Boots Alliance’s payout ratio is currently 29.24%.

A number of equities analysts recently commented on WBA shares. Guggenheim started coverage on shares of Walgreens Boots Alliance in a research note on Thursday, April 18th. They set a “neutral” rating and a $59.00 price target for the company. ValuEngine raised shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research note on Friday, June 28th. BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Bank of America lowered their price objective on shares of Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. Finally, Zacks Investment Research cut shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a research report on Monday, June 10th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.82.

Walgreens Boots Alliance Profile

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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