McKesson Co. (NYSE:MCK) Shares Sold by AlphaCore Capital LLC

AlphaCore Capital LLC cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 76.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 529 shares of the company's stock after selling 1,756 shares during the period. AlphaCore Capital LLC's holdings in McKesson were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Frank Rimerman Advisors LLC increased its holdings in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after buying an additional 18 shares during the last quarter. First Western Trust Bank increased its holdings in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after purchasing an additional 18 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after purchasing an additional 20 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in McKesson by 1.7% in the 4th quarter. Quent Capital LLC now owns 1,178 shares of the company's stock valued at $671,000 after purchasing an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MCK shares. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley increased their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

Insider Buying and Selling

In related news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer now owns 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,856 shares of company stock worth $7,793,675 over the last quarter. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of MCK stock traded up $8.37 during trading hours on Friday, hitting $721.23. 193,437 shares of the company were exchanged, compared to its average volume of 912,081. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The business's 50-day simple moving average is $694.04 and its two-hundred day simple moving average is $636.97. The stock has a market capitalization of $90.23 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping 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 business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the company posted $6.18 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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