Wedbush Securities Inc. Decreases Stock Position in McKesson Co. (NYSE:MCK)

Wedbush Securities Inc. reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 37.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,509 shares of the company's stock after selling 911 shares during the period. Wedbush Securities Inc.'s holdings in McKesson were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC raised its stake in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares during the last quarter. Old North State Trust LLC raised its position in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont grew its position in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Hemington Wealth Management increased its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares during the last quarter. Finally, First Western Trust Bank increased its position in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Bank of America raised their target price on shares of McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Morgan Stanley raised their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $668.50.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction 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 sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock valued at $10,855,706 in the last three months. 0.11% of the stock is currently owned by insiders.

McKesson Trading Up 1.6 %

NYSE:MCK traded up $11.10 during trading hours on Friday, reaching $690.43. 841,601 shares of the company were exchanged, compared to its average volume of 881,074. The firm has a market cap of $86.53 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock's 50-day moving average is $642.70 and its 200-day moving average is $593.86. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio is presently 13.00%.

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.