Walgreens Boots Alliance reports sluggish fiscal 2020 Q1 as shares fall

Walgreens Earnings Slide as It Faces More Competitors

Walgreens misses on earnings and revenue

Overall, Walgreens announced sales had increased 1.6 per cent to $34.3bn, up 2.3 per cent on a constant currency basis. The company had a trading volume of 8,467,984 shares, compared to its average volume of 7,793,480.

Revenue rose 1.6% to $34.34 billion, but missed analysts' estimate of $34.60 billion.

Walgreens Boots Alliance Inc. runs more than 18,750 stores, including almost 9,300 in the United States. Synovus Financial Corp now owns 16,177 shares of the pharmacy operator's stock valued at $883,000 after buying an additional 555 shares during the period. Simon Quick Advisors LLC increased its holdings in shares of Walgreens Boots Alliance by 79.0% during the 4th quarter. During the same period in the prior year, the company earned $1.46 earnings per share. Hedge funds and other institutional investors own 60.38% of the company's stock. Evoke Wealth LLC acquired a new stake in shares of Walgreens Boots Alliance during the 3rd quarter worth $3,106,000. With costs related to the acquisition of Rite Aid stores and to a transformational cost management program excluded, adjusted operating income decreased 16.2% from the year-past period to $1.16 billion.

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After hitting rock bottom in 2019 and landing the title of worst performer in the Dow Jones Industrial Average, many industry commentators are beginning to question Walgreens ability to prosper in the new decade. The shares were sold at an average price of $63.16, for a total value of $14,801,861.80.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, November 18th were given a dividend of $0.458 per share. This represents a $1.83 annualized dividend and a dividend yield of 3.35%.

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective upped by SunTrust Banks from $58.00 to $60.00 in a research report issued on Wednesday, December 18th, BenzingaRatingsTable reports. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Walgreens Boots Alliance is a global leader in retail and wholesale pharmacy, touching millions of lives every day through dispensing and distributing medicines, its convenient retail locations, digital platforms and health and beauty products.

THE WHY? The poor results follow a time of deep uncertainty for pharmaceutical companies as consumers increasingly purchase personal care products online.

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