Wealth Alliance Cuts Holdings in McKesson Co. (NYSE:MCK)

Wealth Alliance trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 632 shares of the company’s stock after selling 71 shares during the quarter. Wealth Alliance’s holdings in McKesson were worth $360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter worth $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter worth $32,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson in the fourth quarter worth $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MCK. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Price Performance

NYSE MCK opened at $597.68 on Friday. The company has a market capitalization of $74.91 billion, a PE ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. The company has a fifty day moving average of $589.02 and a 200 day moving average of $562.38. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,307 shares of company stock worth $6,177,790. Company insiders own 0.11% of the company’s stock.

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.