Atlantic Edge Private Wealth Management LLC Sells 60 Shares of McKesson Co. (NYSE:MCK)

Atlantic Edge Private Wealth Management LLC lowered its position in McKesson Co. (NYSE:MCK) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,477 shares of the company’s stock after selling 60 shares during the quarter. McKesson comprises 1.0% of Atlantic Edge Private Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Atlantic Edge Private Wealth Management LLC’s holdings in McKesson were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Old North State Trust LLC raised its position in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont raised its position in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its position in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the last quarter. QV Investors Inc. raised its position in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after purchasing an additional 20 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its position in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, McKesson has an average rating of “Buy” and an average target price of $645.79.

McKesson Price Performance

McKesson stock opened at $603.33 on Tuesday. The firm has a 50-day moving average of $588.40 and a 200-day moving average of $562.55. The company has a market cap of $76.59 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts expect that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is currently 13.00%.

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.