Meeder Asset Management Inc. decreased its stake in shares of Merck & Co. (NYSE:MRK) by 28.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,541 shares of the company’s stock after selling 36,995 shares during the period. Meeder Asset Management Inc.’s holdings in Merck & Co. were worth $5,333,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in MRK. Carroll Financial Associates Inc. raised its stake in shares of Merck & Co. by 15.2% in the first quarter. Carroll Financial Associates Inc. now owns 14,228 shares of the company’s stock valued at $752,000 after buying an additional 1,880 shares during the last quarter. Tompkins Financial Corp increased its position in Merck & Co. by 4.8% in the first quarter. Tompkins Financial Corp now owns 44,472 shares of the company’s stock worth $2,352,000 after buying an additional 2,020 shares during the period. UMB Bank N A MO increased its position in Merck & Co. by 0.3% in the first quarter. UMB Bank N A MO now owns 306,974 shares of the company’s stock worth $16,242,000 after buying an additional 903 shares during the period. Cornerstone Investment Partners LLC increased its position in Merck & Co. by 3.8% in the first quarter. Cornerstone Investment Partners LLC now owns 17,071 shares of the company’s stock worth $903,000 after buying an additional 622 shares during the period. Finally, OLD National Bancorp IN increased its position in Merck & Co. by 5.0% in the first quarter. OLD National Bancorp IN now owns 93,883 shares of the company’s stock worth $4,967,000 after buying an additional 4,484 shares during the period. Institutional investors own 72.93% of the company’s stock.
Merck & Co. (NYSE:MRK) traded up 0.18% during trading on Friday, hitting $62.77. The stock had a trading volume of 10,775,249 shares. Merck & Co. has a 52-week low of $47.97 and a 52-week high of $64.00. The company has a market cap of $173.57 billion, a price-to-earnings ratio of 34.43 and a beta of 0.68. The company has a 50-day moving average price of $62.66 and a 200-day moving average price of $58.40.
Merck & Co. (NYSE:MRK) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Merck & Co. had a return on equity of 23.41% and a net margin of 13.01%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts forecast that Merck & Co. will post $3.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Thursday, September 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.84 dividend on an annualized basis and a yield of 2.93%. Merck & Co.’s payout ratio is currently 101.10%.
MRK has been the topic of a number of research reports. Citigroup Inc. reaffirmed a “neutral” rating and set a $65.00 price target on shares of Merck & Co. in a research note on Wednesday, August 10th. BMO Capital Markets raised Merck & Co. from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $62.00 to $72.00 in a research note on Friday, August 5th. Jefferies Group dropped their price target on Merck & Co. from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Tuesday, June 14th. Morgan Stanley set a $60.00 price target on Merck & Co. and gave the stock a “hold” rating in a research note on Tuesday, September 13th. Finally, Vetr raised Merck & Co. from a “sell” rating to a “buy” rating and set a $62.26 price target on the stock in a research note on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of €63.20 ($70.23).
In related news, insider Weir Mirian M. Graddick sold 40,800 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of €62.07 ($68.97), for a total value of €2,532,456.00 ($2,813,840.00). Following the completion of the transaction, the insider now directly owns 128,973 shares in the company, valued at approximately €8,005,354.11 ($8,894,837.90). The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Kenneth C. Frazier sold 392,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of €61.81 ($68.68), for a total transaction of €24,229,520.00 ($26,921,688.89). Following the completion of the transaction, the chairman now owns 760,877 shares of the company’s stock, valued at €47,029,807.37 ($52,255,341.52). The disclosure for this sale can be found here. 0.05% of the stock is currently 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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