SVB Wealth LLC Has $1.97 Million Stock Holdings in McKesson Co. (NYSE:MCK)

SVB Wealth LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,263 shares of the company’s stock after selling 76 shares during the period. SVB Wealth LLC’s holdings in McKesson were worth $1,974,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCK. Cullen Investment Group LTD. bought a new stake in shares of McKesson in the 4th quarter valued at about $401,000. Waldron Private Wealth LLC boosted its holdings in McKesson by 19.0% in the fourth quarter. Waldron Private Wealth LLC now owns 907 shares of the company’s stock valued at $420,000 after acquiring an additional 145 shares during the last quarter. Beverly Hills Private Wealth LLC acquired a new stake in McKesson during the 4th quarter valued at approximately $252,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of McKesson by 321.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,432 shares of the company’s stock worth $3,885,000 after purchasing an additional 6,431 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of McKesson in the 4th quarter valued at $1,414,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.5 %

Shares of NYSE:MCK opened at $525.92 on Thursday. The company has a 50-day moving average price of $523.95 and a two-hundred day moving average price of $485.48. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The firm has a market capitalization of $69.11 billion, a PE ratio of 23.83, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $6.90 EPS. Analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

MCK has been the topic of several recent analyst reports. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. UBS Group boosted their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.