Apollon Wealth Management LLC Buys 1,496 Shares of McKesson Co. (NYSE:MCK)

Apollon Wealth Management LLC raised its stake in McKesson Co. (NYSE:MCK - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,803 shares of the company's stock after buying an additional 1,496 shares during the period. Apollon Wealth Management LLC's holdings in McKesson were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its position in McKesson by 1.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,275 shares of the company's stock valued at $989,000 after purchasing an additional 30 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of McKesson by 5.8% in the 3rd quarter. Brown Advisory Inc. now owns 4,066 shares of the company's stock worth $1,768,000 after purchasing an additional 222 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of McKesson by 6.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,563 shares of the company's stock valued at $680,000 after purchasing an additional 98 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in McKesson by 52.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,421 shares of the company's stock worth $15,838,000 after buying an additional 12,488 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in McKesson by 3.0% during the third quarter. Brighton Jones LLC now owns 1,665 shares of the company's stock worth $724,000 after buying an additional 49 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 2.1 %

Shares of NYSE MCK traded up $11.12 during trading on Tuesday, reaching $544.53. 983,843 shares of the company traded hands, compared to its average volume of 705,665. McKesson Co. has a 12-month low of $364.08 and a 12-month high of $546.63. The stock has a market cap of $71.56 billion, a P/E ratio of 24.67, a PEG ratio of 1.41 and a beta of 0.45. The firm's fifty day simple moving average is $530.66 and its 200 day simple moving average is $493.16.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.90 earnings per share. As a group, research analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson's payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Leerink Partnrs restated an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley lifted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. StockNews.com raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday. UBS Group upped their price target on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Finally, Citigroup increased their price target on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $536.71.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available at this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company's stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.