Wealth Alliance Trims Position in McKesson Co. (NYSE:MCK)

Wealth Alliance lessened its position in shares of McKesson Co. (NYSE:MCK) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 reporting period.

Other hedge funds also recently bought and sold shares of the company. Legacy Financial Group LLC purchased a new stake in McKesson during the third quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in McKesson in the third quarter worth about $26,000. BKM Wealth Management LLC purchased a new stake in McKesson in the fourth quarter worth about $31,000. Live Oak Investment Partners purchased a new stake in McKesson in the fourth quarter worth about $30,000. Finally, Covestor Ltd increased its position in McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $525.92 on Thursday. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The business has a 50 day simple moving average of $523.95 and a 200-day simple moving average of $485.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (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 analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $6.90 EPS. As a group, analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is 11.24%.

Insider Transactions at McKesson

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCK. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Argus increased 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. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Barclays started coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson 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.