Global Wealth Management Investment Advisory Inc. Makes New $3.54 Million Investment in McKesson Corporation $MCK

Global Wealth Management Investment Advisory Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,312 shares of the company’s stock, valued at approximately $3,537,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ameritas Advisory Services LLC raised its holdings in shares of McKesson by 163.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 922 shares of the company’s stock worth $756,000 after purchasing an additional 572 shares in the last quarter. Liberty Wealth Management LLC increased its position in shares of McKesson by 38.0% in the fourth quarter. Liberty Wealth Management LLC now owns 378 shares of the company’s stock worth $310,000 after acquiring an additional 104 shares in the last quarter. Independent Advisor Alliance grew its position in McKesson by 14.1% during the fourth quarter. Independent Advisor Alliance now owns 3,194 shares of the company’s stock valued at $2,620,000 after purchasing an additional 394 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in McKesson by 13.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 816 shares of the company’s stock valued at $669,000 after purchasing an additional 96 shares in the last quarter. Finally, World Investment Advisors grew its position in McKesson by 7.9% during the fourth quarter. World Investment Advisors now owns 7,104 shares of the company’s stock valued at $5,696,000 after purchasing an additional 521 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Barclays boosted their target price on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Wells Fargo & Company decreased their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group upped their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, TD Cowen increased their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $963.20.

McKesson Stock Up 1.4%

Shares of NYSE:MCK opened at $735.20 on Wednesday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company’s 50-day moving average price is $869.22 and its two-hundred day moving average price is $858.69. The firm has a market cap of $88.37 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.08 and a beta of 0.35.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Insider Activity

In other news, Director Maria Martinez sold 349 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the transaction, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $3,214,530. This trade represents a 45.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,264 shares of company stock valued at $3,205,315. 0.08% of the stock is currently owned by insiders.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.