Investors Asset Management of Georgia Inc. GA ADV Has $1.19 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Investors Asset Management of Georgia Inc. GA ADV lessened its holdings in McKesson Co. (NYSE:MCK) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,579 shares of the company’s stock after selling 50 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in McKesson were worth $1,194,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Covestor Ltd lifted its stake in shares of McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of McKesson in the 3rd quarter valued at $26,000. Legacy Financial Group LLC bought a new position in shares of McKesson in the 3rd quarter valued at $27,000. Live Oak Investment Partners bought a new position in shares of McKesson in the 4th quarter valued at $30,000. Finally, BKM Wealth Management LLC bought a new position in shares of McKesson in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 2.0 %

MCK stock traded down $10.68 during mid-day trading on Thursday, reaching $515.24. 331,183 shares of the company traded hands, compared to its average volume of 684,773. The stock has a market cap of $67.71 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.43 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The firm’s 50 day moving average price is $523.95 and its 200 day moving average price is $485.48.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.90 EPS. On average, analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 11.24%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCK shares. Citigroup raised their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $533.50.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.