Avantax Advisory Services Inc. Has $2.03 Million Position in McKesson Co. (NYSE:MCK)

Avantax Advisory Services Inc. lowered its holdings in McKesson Co. (NYSE:MCK - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,557 shares of the company's stock after selling 811 shares during the period. Avantax Advisory Services Inc.'s holdings in McKesson were worth $2,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Essential Planning LLC. acquired a new position in McKesson in the fourth quarter valued at $5,996,000. EverSource Wealth Advisors LLC boosted its holdings in McKesson by 7.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,007 shares of the company's stock valued at $1,144,000 after acquiring an additional 144 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in McKesson by 6.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,008 shares of the company's stock valued at $3,994,000 after acquiring an additional 414 shares during the last quarter. PFG Advisors acquired a new position in McKesson in the fourth quarter valued at $228,000. Finally, HighTower Advisors LLC boosted its holdings in McKesson by 113.1% in the fourth quarter. HighTower Advisors LLC now owns 72,408 shares of the company's stock valued at $41,266,000 after acquiring an additional 38,433 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Down 1.0 %

McKesson stock traded down $6.91 during midday trading on Friday, hitting $659.45. The stock had a trading volume of 1,966,664 shares, compared to its average volume of 798,771. The stock has a market cap of $82.65 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $686.56. The business has a fifty day moving average price of $614.59 and a 200 day moving average price of $573.65.

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McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson's dividend payout ratio is presently 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,689 shares of company stock worth $11,187,351. Company insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $649.36.

About McKesson

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.