Angeles Wealth Management LLC Acquires 35 Shares of McKesson Corporation $MCK

Angeles Wealth Management LLC raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 557 shares of the company’s stock after acquiring an additional 35 shares during the period. Angeles Wealth Management LLC’s holdings in McKesson were worth $408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in McKesson by 54.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after acquiring an additional 1,592 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after acquiring an additional 3,659 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in McKesson in the first quarter valued at $289,000. Finally, Archford Capital Strategies LLC boosted its holdings in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after acquiring an additional 1,372 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $788.27 on Friday. The stock has a market cap of $98.05 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.40 and a beta of 0.52. The firm’s 50-day moving average is $716.48 and its 200 day moving average is $709.96. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $793.97.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.88 EPS. On average, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MCK shares. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Evercore ISI lifted their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

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.