Angeles Wealth Management LLC Has $331,000 Holdings in McKesson Co. (NYSE:MCK)

Angeles Wealth Management LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 38.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 567 shares of the company’s stock after purchasing an additional 157 shares during the quarter. Angeles Wealth Management LLC’s holdings in McKesson were worth $331,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sachetta LLC acquired a new position in shares of McKesson during the fourth quarter worth $27,000. LRI Investments LLC bought a new stake in McKesson during the first quarter valued at $28,000. Register Financial Advisors LLC bought a new stake in McKesson during the first quarter valued at $29,000. Richardson Financial Services Inc. bought a new stake in McKesson during the fourth quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Citigroup dropped their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird dropped their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $622.07.

McKesson Price Performance

MCK opened at $510.45 on Thursday. The firm has a market capitalization of $66.20 billion, a PE ratio of 22.81, a P/E/G ratio of 1.16 and a beta of 0.44. McKesson Co. has a fifty-two week low of $417.65 and a fifty-two week high of $637.51. The company’s 50-day moving average is $570.15 and its 200 day moving average is $557.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $7.27 EPS. As a group, analysts expect that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.69%.

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.