Organon & Co. $OGN Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of Organon & Co. (NYSE:OGN) by 49.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,117 shares of the company’s stock after selling 42,362 shares during the quarter. State of Alaska Department of Revenue’s holdings in Organon & Co. were worth $604,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OGN. Cetera Investment Advisers boosted its holdings in Organon & Co. by 1.7% during the first quarter. Cetera Investment Advisers now owns 48,073 shares of the company’s stock worth $288,000 after buying an additional 788 shares in the last quarter. Wedmont Private Capital grew its position in Organon & Co. by 8.9% during the third quarter. Wedmont Private Capital now owns 10,954 shares of the company’s stock valued at $151,000 after buying an additional 899 shares during the period. GAMMA Investing LLC grew its position in Organon & Co. by 38.2% during the third quarter. GAMMA Investing LLC now owns 7,990 shares of the company’s stock valued at $109,000 after buying an additional 2,208 shares during the period. Allied Private Wealth LLC acquired a new stake in Organon & Co. during the second quarter valued at $33,000. Finally, Poehling Capital Management INC. increased its holdings in Organon & Co. by 1.3% in the first quarter. Poehling Capital Management INC. now owns 219,288 shares of the company’s stock valued at $1,314,000 after buying an additional 2,796 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $11.40.

Organon & Co. Stock Performance

Shares of OGN stock opened at $13.76 on Friday. The company has a market capitalization of $3.61 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.27 and a beta of 1.55. The business’s 50 day moving average is $13.74 and its two-hundred day moving average is $13.03. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43. Organon & Co. has a 12-month low of $5.69 and a 12-month high of $13.83.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were given a $0.02 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. Organon & Co.’s payout ratio is 10.39%.

Organon & Co. Profile

Organon & Co is a global health care company focused on improving the health and quality of life of women throughout their lives. The company develops, manufactures and commercializes prescription medicines and other health care products, with operations serving patients and health care providers in markets around the world.

Organon’s women’s health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as medicines and technologies related to fertility, pregnancy and other reproductive health needs.