Integrated Advisors Network LLC Sells 477 Shares of McKesson Co. (NYSE:MCK)

Integrated Advisors Network LLC reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,212 shares of the company's stock after selling 477 shares during the quarter. Integrated Advisors Network LLC's holdings in McKesson were worth $1,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the fourth quarter worth $28,000. Atala Financial Inc bought a new position in shares of McKesson in the fourth quarter worth about $34,000. Graney & King LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MCK shares. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $694.38.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 0.5%

Shares of NYSE MCK traded down $3.65 during midday trading on Friday, reaching $727.15. The company's stock had a trading volume of 518,101 shares, compared to its average volume of 920,038. The stock has a 50 day simple moving average of $701.80 and a 200-day simple moving average of $643.67. The stock has a market capitalization of $90.98 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $732.09.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the business earned $6.18 EPS. The company's revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is 10.99%.

McKesson 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.