Great Valley Advisor Group Inc. Buys 724 Shares of McKesson Co. (NYSE:MCK)

Great Valley Advisor Group Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,222 shares of the company's stock after buying an additional 724 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in McKesson were worth $6,395,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the 4th quarter valued at about $34,000. Finally, Graney & King LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Up 1.0%

Shares of NYSE MCK traded up $6.99 during midday trading on Friday, hitting $719.85. 1,322,227 shares of the company's stock were exchanged, compared to its average volume of 916,780. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The company's 50 day moving average price is $695.18 and its 200 day moving average price is $637.77. The firm has a market capitalization of $90.06 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $94 billion. During the same period in the previous year, the business posted $6.18 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Bank of America increased their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley increased their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $686.69.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 10,856 shares of company stock valued at $7,793,675. Company insiders own 0.11% 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.