Integrated Wealth Concepts LLC Purchases 1,131 Shares of McKesson Corporation $MCK

Integrated Wealth Concepts LLC boosted its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 27.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,323 shares of the company's stock after acquiring an additional 1,131 shares during the period. Integrated Wealth Concepts LLC's holdings in McKesson were worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of McKesson during the 4th quarter worth $108,000. Ethic Inc. increased its position in shares of McKesson by 43.0% in the fourth quarter. Ethic Inc. now owns 5,042 shares of the company's stock worth $2,874,000 after purchasing an additional 1,516 shares during the period. Graham Capital Management L.P. raised its stake in McKesson by 57.9% in the fourth quarter. Graham Capital Management L.P. now owns 3,971 shares of the company's stock valued at $2,263,000 after purchasing an additional 1,456 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in McKesson by 1.8% during the fourth quarter. Gotham Asset Management LLC now owns 30,346 shares of the company's stock worth $17,294,000 after purchasing an additional 537 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCK shares. Wells Fargo & Company increased their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Morgan Stanley reaffirmed an "overweight" rating and issued a $810.00 target price (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Evercore ISI lifted their price target on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $725.10.

McKesson Trading Down 1.2%

MCK traded down $8.48 during trading on Friday, reaching $711.32. 522,385 shares of the company's stock were exchanged, compared to its average volume of 704,488. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The firm has a fifty day moving average price of $697.81 and a two-hundred day moving average price of $694.47. The stock has a market capitalization of $88.48 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the company earned $7.88 earnings per share. The business's revenue was up 23.4% on a year-over-year basis. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson's payout ratio is presently 13.08%.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the sale, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% of the company's stock.

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.