Walgreens Boots Alliance Inc (NASDAQ:WBA) declared a quarterly dividend on Wednesday, July 10th, Zacks reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.458 per share by the pharmacy operator on Thursday, September 12th. This represents a $1.83 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, August 19th. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.44.
Walgreens Boots Alliance has raised its dividend payment by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 43 consecutive years. Walgreens Boots Alliance has a payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Walgreens Boots Alliance to earn $6.01 per share next year, which means the company should continue to be able to cover its $1.83 annual dividend with an expected future payout ratio of 30.4%.
WBA opened at $50.48 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.76 and a quick ratio of 0.37. The company’s 50 day simple moving average is $54.18 and its two-hundred day simple moving average is $57.57. Walgreens Boots Alliance has a 1-year low of $49.12 and a 1-year high of $86.31. The firm has a market capitalization of $45.53 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.26 and a beta of 0.81.
A number of brokerages have recently issued reports on WBA. Zacks Investment Research downgraded shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating and set a $53.00 price target for the company. in a report on Monday, June 10th. Bank of America cut their price target on shares of Walgreens Boots Alliance from $53.00 to $51.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. ValuEngine upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a report on Friday, June 28th. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Finally, Morgan Stanley set a $61.00 price target on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a report on Tuesday, May 14th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Walgreens Boots Alliance has a consensus rating of “Hold” and a consensus target price of $63.82.
In related news, CAO Marco Patrick Anthony Pagni sold 215,323 shares of Walgreens Boots Alliance stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $50.48, for a total value of $10,869,505.04. Following the completion of the sale, the chief accounting officer now owns 357,851 shares in the company, valued at approximately $18,064,318.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.73% of the stock is currently owned by company insiders.
Walgreens Boots Alliance Company 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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