McKesson Corporation $MCK Shares Acquired by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 43.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,066 shares of the company’s stock after acquiring an additional 2,145 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in McKesson were worth $6,033,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of McKesson in the second quarter worth approximately $8,156,743,000. Bank of America Corp DE lifted its position in McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after purchasing an additional 35,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in McKesson by 3.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares during the period. Legal & General Group Plc bought a new position in McKesson during the second quarter valued at approximately $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in McKesson in the second quarter worth approximately $651,462,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares in the company, valued at $5,400,223.40. This trade represents a 12.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at approximately $464,445.45. The trade was a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,161 shares of company stock worth $2,242,515 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Down 0.1%

Shares of NYSE:MCK opened at $1,059.43 on Tuesday. The firm’s 50 day moving average price is $941.40 and its 200-day moving average price is $869.30. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,121.50. The stock has a market capitalization of $123.52 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.27.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. The company had revenue of $110.96 billion for the quarter, compared to the consensus estimate of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $9.86 earnings per share. Analysts expect that McKesson Corporation will post 46.21 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 9.67%.

Analyst Ratings Changes

MCK has been the subject of a number of research analyst reports. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Barclays boosted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Wells Fargo & Company increased their price target on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, UBS Group raised their price target on McKesson from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,026.18.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.