PNC Financial Services Group Inc. Sells 63,784 Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

PNC Financial Services Group Inc. trimmed its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 17.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,387 shares of the pharmacy operator's stock after selling 63,784 shares during the period. PNC Financial Services Group Inc.'s holdings in Walgreens Boots Alliance were worth $8,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Walgreens Boots Alliance by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 86,675,198 shares of the pharmacy operator's stock valued at $1,927,656,000 after buying an additional 10,962,030 shares during the period. Capital World Investors raised its holdings in Walgreens Boots Alliance by 29.1% during the 4th quarter. Capital World Investors now owns 18,448,648 shares of the pharmacy operator's stock valued at $481,694,000 after buying an additional 4,163,317 shares during the period. Invesco Ltd. raised its holdings in Walgreens Boots Alliance by 21.5% during the 3rd quarter. Invesco Ltd. now owns 17,026,420 shares of the pharmacy operator's stock valued at $378,668,000 after buying an additional 3,013,807 shares during the period. Morgan Stanley raised its holdings in Walgreens Boots Alliance by 15.8% during the 3rd quarter. Morgan Stanley now owns 12,584,371 shares of the pharmacy operator's stock valued at $279,876,000 after buying an additional 1,720,228 shares during the period. Finally, Norges Bank bought a new position in Walgreens Boots Alliance in the 4th quarter valued at $29,816,000. 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 several research analyst reports. HSBC reaffirmed a "reduce" rating and issued a $20.00 price objective (down previously from $27.00) on shares of Walgreens Boots Alliance in a research report on Tuesday, February 20th. Truist Financial reaffirmed a "hold" rating and set a $25.00 price objective on shares of Walgreens Boots Alliance in a research report on Monday, April 1st. SVB Leerink dropped their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a "market perform" rating on the stock in a research report on Monday, March 18th. Leerink Partnrs reaffirmed a "market perform" rating on shares of Walgreens Boots Alliance in a research report on Monday, February 26th. Finally, Raymond James reiterated a "market perform" rating on shares of Walgreens Boots Alliance in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Walgreens Boots Alliance currently has an average rating of "Hold" and an average target price of $23.57.

Walgreens Boots Alliance Stock Up 6.3 %

Shares of NASDAQ:WBA traded up $0.96 on Tuesday, hitting $16.11. 19,143,673 shares of the company's stock were exchanged, compared to its average volume of 13,074,337. The company has a market capitalization of $13.90 billion, a PE ratio of -2.30, a P/E/G ratio of 0.97 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.32 and a current ratio of 0.66. Walgreens Boots Alliance, Inc. has a 1-year low of $14.62 and a 1-year high of $32.89. The firm's 50-day moving average is $16.96 and its 200 day moving average is $20.56.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last announced its earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.38. The firm had revenue of $37.05 billion during the quarter, compared to analysts' expectations of $35.86 billion. Walgreens Boots Alliance had a positive return on equity of 12.11% and a negative net margin of 4.18%. The business's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Sell-side analysts predict that Walgreens Boots Alliance, Inc. will post 3.21 EPS for the current year.

Walgreens Boots Alliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance's dividend payout ratio is presently -14.29%.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, CFO Manmohan Mahajan acquired 6,000 shares of Walgreens Boots Alliance stock in a transaction on Tuesday, April 2nd. The stock was purchased at an average cost of $19.38 per share, with a total value of $116,280.00. Following the purchase, the chief financial officer now directly owns 166,969 shares in the company, valued at $3,235,859.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Walgreens Boots Alliance news, Director Inderpal S. Bhandari bought 3,000 shares of the business's stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $18.05 per share, with a total value of $54,150.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $54,150. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Manmohan Mahajan bought 6,000 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of $19.38 per share, with a total value of $116,280.00. Following the completion of the purchase, the chief financial officer now owns 166,969 shares in the company, valued at approximately $3,235,859.22. The disclosure for this purchase can be found here. 17.40% of the stock is owned by company insiders.

About Walgreens Boots Alliance

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.