United Asset Strategies Inc. Sells 1,704 Shares of McKesson Corporation $MCK

United Asset Strategies Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,402 shares of the company’s stock after selling 1,704 shares during the quarter. United Asset Strategies Inc.’s holdings in McKesson were worth $11,286,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCK. Wealth Alliance LLC grew its holdings in shares of McKesson by 2.7% during the second quarter. Wealth Alliance LLC now owns 653 shares of the company’s stock valued at $479,000 after buying an additional 17 shares during the last quarter. M&G PLC boosted its stake in McKesson by 14.3% during the 2nd quarter. M&G PLC now owns 37,347 shares of the company’s stock valued at $27,375,000 after purchasing an additional 4,684 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of McKesson by 6.5% in the 2nd quarter. Forsta AP Fonden now owns 42,847 shares of the company’s stock worth $31,397,000 after purchasing an additional 2,600 shares in the last quarter. National Pension Service lifted its holdings in shares of McKesson by 16.6% during the second quarter. National Pension Service now owns 376,778 shares of the company’s stock valued at $276,095,000 after purchasing an additional 53,577 shares in the last quarter. Finally, Advyzon Investment Management LLC purchased a new stake in shares of McKesson during the second quarter valued at $427,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of MCK opened at $855.78 on Wednesday. The firm has a market cap of $106.44 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 1 year low of $558.13 and a 1 year high of $867.63. The company has a 50 day simple moving average of $764.28 and a two-hundred day simple moving average of $726.81.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.07 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,189 shares of company stock worth $16,787,319 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on MCK shares. JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. TD Cowen increased their target price on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Citigroup raised their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $887.69.

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.