Private Advisor Group LLC Has $6.92 Million Holdings in McKesson Corporation (NYSE:MCK)

Private Advisor Group LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,282 shares of the company's stock after selling 441 shares during the quarter. Private Advisor Group LLC's holdings in McKesson were worth $6,920,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after purchasing an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after acquiring an additional 3,659 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after buying an additional 7,556 shares during the period. Finally, CWA Asset Management Group LLC grew its position in McKesson by 6.3% during the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after buying an additional 58 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction that occurred on 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 owned 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares in the company, valued at $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,488 shares of company stock valued at $37,242,862 in the last quarter. 0.08% of the stock is currently owned by company insiders.

McKesson Trading Up 0.2%

NYSE:MCK traded up $1.39 on Monday, hitting $711.19. The company's stock had a trading volume of 395,779 shares, compared to its average volume of 919,143. The stock has a fifty day moving average of $716.44 and a two-hundred day moving average of $668.27. The firm has a market capitalization of $88.98 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89.

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, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the business posted $6.18 earnings per share. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's payout ratio is 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America lifted their price target 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. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Morgan Stanley reiterated an "overweight" rating and set a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $710.17.

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.