McKesson Corporation (NYSE:MCK) Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,951 shares of the company's stock after buying an additional 442 shares during the period. Wedbush Securities Inc.'s holdings in McKesson were worth $1,313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCK. Oppenheimer Asset Management Inc. raised its position in shares of McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after buying an additional 1,592 shares during the period. 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 valued at $524,000 after buying an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. raised 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 buying an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after buying an additional 7,556 shares during the period. Finally, CWA Asset Management Group LLC raised its position in shares of McKesson by 6.3% during the 1st quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock valued at $659,000 after buying an additional 58 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.2%

Shares of MCK traded up $1.61 during mid-day trading on Friday, hitting $711.80. 431,229 shares of the company's stock were exchanged, compared to its average volume of 586,523. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The firm has a market capitalization of $89.05 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.44 and a beta of 0.48. The business's 50 day moving average is $717.86 and its two-hundred day moving average is $672.13.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the firm earned $6.18 earnings per share. The business's quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the 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 transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. 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 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley boosted their target price on McKesson from $770.00 to $810.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $710.17.

McKesson Company 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.