Investors Asset Management of Georgia Inc. GA ADV Has $1.26 Million Holdings in McKesson Co. (NYSE:MCK)

Investors Asset Management of Georgia Inc. GA ADV decreased its stake in McKesson Co. (NYSE:MCK) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,554 shares of the company’s stock after selling 25 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in McKesson were worth $1,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. BluePath Capital Management LLC boosted its position in shares of McKesson by 14.2% during the third quarter. BluePath Capital Management LLC now owns 1,379 shares of the company’s stock worth $682,000 after purchasing an additional 171 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in McKesson by 17.0% during the third quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock worth $342,000 after acquiring an additional 99 shares in the last quarter. Lebenthal Global Advisors LLC grew its stake in McKesson by 6.2% in the third quarter. Lebenthal Global Advisors LLC now owns 3,774 shares of the company’s stock valued at $1,866,000 after acquiring an additional 220 shares during the period. Pacific Sage Partners LLC increased its holdings in shares of McKesson by 131.2% in the third quarter. Pacific Sage Partners LLC now owns 881 shares of the company’s stock worth $436,000 after acquiring an additional 500 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of McKesson by 3.1% during the third quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock worth $744,000 after purchasing an additional 45 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 5.1 %

Shares of NYSE MCK traded up $25.75 during trading hours on Friday, hitting $526.34. The company had a trading volume of 1,507,968 shares, compared to its average volume of 806,169. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The firm’s 50 day moving average is $512.00 and its 200-day moving average is $550.24. The stock has a market capitalization of $68.25 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.27 earnings per share. On average, sell-side analysts predict that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.54%. McKesson’s dividend payout ratio is 12.70%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Citigroup lowered their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.