United Asset Strategies Inc. Has $9.80 Million Stock Holdings in McKesson Corporation $MCK

United Asset Strategies Inc. trimmed its stake in shares of McKesson Corporation (NYSE:MCK) by 26.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,327 shares of the company’s stock after selling 4,022 shares during the period. United Asset Strategies Inc.’s holdings in McKesson were worth $9,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after purchasing an additional 73,109 shares during the period. State Street Corp grew its position in McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after purchasing an additional 29,660 shares in the last quarter. Geode Capital Management LLC increased its stake in McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. increased its stake in McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. lifted its position in McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after buying an additional 126,684 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock traded up $27.42 during trading on Tuesday, reaching $811.65. The company had a trading volume of 202,679 shares, compared to its average volume of 940,088. The firm’s 50 day simple moving average is $769.23 and its two-hundred day simple moving average is $839.09. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company has a market capitalization of $95.03 billion, a PE ratio of 21.10, a PEG ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the business earned $10.12 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. UBS Group increased their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Citigroup lowered their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the sale, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is owned by corporate insiders.

McKesson 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.