Marcum Wealth LLC Has $350,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Marcum Wealth LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 615 shares of the company’s stock after selling 38 shares during the quarter. Marcum Wealth LLC’s holdings in McKesson were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its position in McKesson by 6.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,905 shares of the company’s stock valued at $2,281,000 after purchasing an additional 233 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of McKesson by 140.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock valued at $1,747,000 after buying an additional 1,747 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of McKesson by 5.9% during the second quarter. Brown Brothers Harriman & Co. now owns 1,902 shares of the company’s stock worth $1,111,000 after acquiring an additional 106 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of McKesson by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock worth $230,821,000 after acquiring an additional 21,832 shares during the last quarter. Finally, One Capital Management LLC bought a new position in McKesson in the 2nd quarter valued at about $1,055,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 1.5 %

Shares of MCK stock opened at $594.11 on Wednesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a 50 day moving average of $595.09 and a 200-day moving average of $560.90. The firm has a market cap of $75.42 billion, a P/E ratio of 30.77, a PEG ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the business posted $6.23 earnings per share. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

A number of analysts have commented on MCK shares. Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

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.