Janney Montgomery Scott LLC decreased its position in Merck & Co. (NYSE:MRK) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 582,684 shares of the company’s stock after selling 70,088 shares during the period. Janney Montgomery Scott LLC’s holdings in Merck & Co. were worth $30,777,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of MRK. Raymond James Trust N.A. boosted its stake in Merck & Co. by 3.3% in the second quarter. Raymond James Trust N.A. now owns 337,745 shares of the company’s stock worth $19,457,000 after buying an additional 10,865 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Merck & Co. during the second quarter worth approximately $274,347,000. Nordea Investment Management AB boosted its stake in Merck & Co. by 16.1% in the second quarter. Nordea Investment Management AB now owns 2,411,985 shares of the company’s stock worth $138,954,000 after buying an additional 334,806 shares during the period. Orbis Allan Gray Ltd acquired a new stake in Merck & Co. during the first quarter worth approximately $239,761,000. Finally, Envestnet Asset Management Inc. boosted its stake in Merck & Co. by 7.0% in the first quarter. Envestnet Asset Management Inc. now owns 1,107,242 shares of the company’s stock worth $58,584,000 after buying an additional 72,808 shares during the period. Hedge funds and other institutional investors own 72.93% of the company’s stock.
Merck & Co. (NYSE:MRK) traded down 2.32% during trading on Thursday, hitting $61.83. The stock had a trading volume of 6,013,084 shares. The stock’s 50 day moving average price is $62.81 and its 200 day moving average price is $57.94. The firm has a market cap of $170.97 billion, a P/E ratio of 33.92 and a beta of 0.63. Merck & Co. has a 12-month low of $47.97 and a 12-month high of $64.00.
Merck & Co. (NYSE:MRK) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Merck & Co. had a return on equity of 23.41% and a net margin of 13.01%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, analysts anticipate that Merck & Co. will post $3.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 15th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, September 13th. Merck & Co.’s dividend payout ratio (DPR) is presently 101.10%.
MRK has been the subject of a number of research analyst reports. Berenberg Bank reiterated a “hold” rating and issued a $62.00 price target on shares of Merck & Co. in a research note on Sunday, September 11th. Argus reiterated a “buy” rating and issued a $65.00 price target on shares of Merck & Co. in a research note on Wednesday, September 14th. Jefferies Group reiterated a “hold” rating and issued a $56.00 price target (down from $57.00) on shares of Merck & Co. in a research note on Monday, September 12th. Credit Suisse Group AG upgraded Merck & Co. from a “neutral” rating to an “outperform” rating and increased their price target for the company from $62.00 to $73.00 in a research note on Sunday, August 7th. Finally, Barclays PLC increased their price target on Merck & Co. from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, September 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of €63.20 ($70.23).
In other Merck & Co. news, insider Weir Mirian M. Graddick sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of €57.49 ($63.88), for a total transaction of €1,724,700.00 ($1,916,333.33). Following the transaction, the insider now owns 162,151 shares in the company, valued at approximately €9,322,060.99 ($10,357,845.54). The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Adam H. Schechter sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of €57.69 ($64.10), for a total value of €2,884,500.00 ($3,205,000.00). Following the transaction, the executive vice president now owns 50,000 shares in the company, valued at approximately €2,884,500 ($3,205,000). The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
Merck & Co. Company Profile
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products, which it markets directly and through its joint ventures. It operates through one segment, Pharmaceutical. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
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