United Asset Strategies Inc. Acquires 592 Shares of McKesson Co. (NYSE:MCK)

United Asset Strategies Inc. raised its stake in shares of McKesson Co. (NYSE:MCK) by 3.6% during the fourth quarter, Holdings Channel reports. The firm owned 16,846 shares of the company’s stock after buying an additional 592 shares during the period. United Asset Strategies Inc.’s holdings in McKesson were worth $9,601,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the 3rd quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of NYSE MCK opened at $591.47 on Monday. The company’s 50 day simple moving average is $592.65 and its 200 day simple moving average is $561.31. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $75.08 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the company earned $6.23 EPS. Sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MCK. Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $646.14.

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.