AE Wealth Management LLC Sells 2,705 Shares of McKesson Co. (NYSE:MCK)

Posted by on Apr 19th, 2023

AE Wealth Management LLC trimmed its holdings in McKesson Co. (NYSE:MCK – Get Rating) by 21.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,948 shares of the company’s stock after selling 2,705 shares during the quarter. AE Wealth Management LLC’s holdings in McKesson were worth $3,732,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new position in McKesson during the first quarter valued at $46,000. Synovus Financial Corp increased its holdings in shares of McKesson by 4.0% in the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after purchasing an additional 85 shares during the last quarter. Prudential PLC bought a new stake in shares of McKesson in the first quarter worth about $1,610,000. Cetera Investment Advisers lifted its position in shares of McKesson by 17.8% in the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock worth $3,012,000 after buying an additional 1,490 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in McKesson during the first quarter valued at approximately $598,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, EVP Nancy Avila sold 161 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $370.02, for a total transaction of $59,573.22. Following the transaction, the executive vice president now directly owns 4,631 shares of the company’s stock, valued at $1,713,562.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian S. Tyler sold 7,416 shares of McKesson stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares in the company, valued at $28,780,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Avila sold 161 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total transaction of $59,573.22. Following the transaction, the executive vice president now owns 4,631 shares in the company, valued at $1,713,562.62. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on MCK shares. Morgan Stanley upped their price objective on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Citigroup began coverage on shares of McKesson in a research report on Friday, March 31st. They set a “buy” rating and a $420.00 price objective for the company. StockNews.com began coverage on shares of McKesson in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. UBS Group lowered their price target on shares of McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a report on Tuesday, January 31st. Finally, Robert W. Baird boosted their price objective on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $416.64.

McKesson Price Performance

Shares of NYSE MCK opened at $360.26 on Wednesday. The company has a market cap of $49.33 billion, a P/E ratio of 16.47, a PEG ratio of 1.33 and a beta of 0.58. The firm has a 50-day simple moving average of $354.92 and a two-hundred day simple moving average of $367.39. McKesson Co. has a 1 year low of $298.69 and a 1 year high of $401.78.

McKesson (NYSE:MCK – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $6.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.36 by $0.54. The firm had revenue of $70.49 billion during the quarter, compared to analyst estimates of $70.98 billion. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. McKesson’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $6.15 EPS. As a group, equities research analysts expect that McKesson Co. will post 25.92 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 1st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 0.60%. The ex-dividend date was Tuesday, February 28th. McKesson’s dividend payout ratio is presently 9.88%.

McKesson Company Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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