Carnegie Capital Asset Management LLC Trims Stock Position in Merck & Co., Inc. (NYSE:MRK)

Carnegie Capital Asset Management LLC lessened its position in shares of Merck & Co., Inc. (NYSE:MRKGet Rating) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,873 shares of the company’s stock after selling 8,505 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Merck & Co., Inc. were worth $2,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MRK. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Merck & Co., Inc. during the 1st quarter valued at approximately $25,000. Landmark Wealth Management LLC purchased a new stake in Merck & Co., Inc. in the first quarter valued at approximately $25,000. Front Row Advisors LLC raised its position in Merck & Co., Inc. by 89.4% in the fourth quarter. Front Row Advisors LLC now owns 339 shares of the company’s stock valued at $26,000 after purchasing an additional 160 shares during the period. Okabena Investment Services Inc. purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $27,000. Finally, Western Pacific Wealth Management LP purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Merck & Co., Inc. Price Performance

Shares of MRK opened at $84.53 on Thursday. Merck & Co., Inc. has a 1-year low of $71.50 and a 1-year high of $95.72. The stock has a market cap of $214.14 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.16 and a beta of 0.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.15. The firm has a fifty day moving average price of $88.96 and a 200 day moving average price of $87.74.

Merck & Co., Inc. (NYSE:MRKGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.20. Merck & Co., Inc. had a net margin of 29.00% and a return on equity of 48.45%. The firm had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $13.85 billion. During the same period in the previous year, the company earned $1.31 earnings per share. Merck & Co., Inc.’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Merck & Co., Inc. will post 7.33 EPS for the current year.

Merck & Co., Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 15th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.27%. Merck & Co., Inc.’s payout ratio is 42.27%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRK. Berenberg Bank raised Merck & Co., Inc. from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $100.00 in a research report on Wednesday, September 14th. Daiwa Capital Markets upgraded shares of Merck & Co., Inc. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $89.00 to $102.00 in a research note on Wednesday, July 6th. Morgan Stanley boosted their price target on shares of Merck & Co., Inc. from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Mizuho assumed coverage on shares of Merck & Co., Inc. in a research note on Friday, June 24th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Cowen boosted their price target on shares of Merck & Co., Inc. from $95.00 to $102.00 and gave the stock a “market perform” rating in a research note on Monday, June 27th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Merck & Co., Inc. currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.28.

Merck & Co., Inc. Company Profile

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Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.

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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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