McKesson Co. (NYSE:MCK) Shares Sold by Wealth Alliance

Wealth Alliance decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,137 shares of the company’s stock after selling 106 shares during the quarter. Wealth Alliance’s holdings in McKesson were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Norges Bank acquired a new stake in McKesson during the fourth quarter worth about $633,960,000. International Assets Investment Management LLC raised its stake in McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after acquiring an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA raised its stake in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares during the period. Moneta Group Investment Advisors LLC raised its stake in McKesson by 94,078.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after acquiring an additional 595,518 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in McKesson by 53.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after acquiring an additional 320,588 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MCK. Argus raised their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup raised their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Performance

Shares of NYSE:MCK opened at $525.92 on Thursday. The company has a market cap of $69.11 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The firm has a 50 day simple moving average of $523.95 and a 200 day simple moving average of $485.48.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate 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 net margin of 0.99% and a negative return on equity of 262.63%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.90 EPS. On average, equities analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Activity at McKesson

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

McKesson Company Profile

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.