Bowling Portfolio Management LLC cut its position in shares of Merck & Co., Inc. (NYSE:MRK) by 62.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,177 shares of the company’s stock after selling 37,881 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Merck & Co., Inc. were worth $1,923,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in shares of Merck & Co., Inc. during the 2nd quarter valued at $32,000. Lake Point Wealth Management increased its position in shares of Merck & Co., Inc. by 159.0% during the 1st quarter. Lake Point Wealth Management now owns 518 shares of the company’s stock valued at $40,000 after purchasing an additional 318 shares during the period. Provident Wealth Management LLC acquired a new position in shares of Merck & Co., Inc. during the 3rd quarter valued at $43,000. Estate Counselors LLC acquired a new position in shares of Merck & Co., Inc. during the 2nd quarter valued at $45,000. Finally, Watson Rebecca bought a new stake in shares of Merck & Co., Inc. during the 2nd quarter worth $48,000. Institutional investors own 73.18% of the company’s stock.
In other Merck & Co., Inc. news, CFO Robert M. Davis sold 251,273 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $81.03, for a total transaction of $20,360,651.19. Following the transaction, the chief financial officer now directly owns 422,329 shares in the company, valued at $34,221,318.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sanat Chattopadhyay sold 10,380 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.01, for a total value of $861,643.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,529 shares of company stock worth $22,761,633. Corporate insiders own 0.28% of the company’s stock.
MRK opened at $79.83 on Friday. The stock has a market cap of $201.91 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.10 and a beta of 0.43. Merck & Co., Inc. has a 1 year low of $65.25 and a 1 year high of $92.64. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $83.27 and a 200 day moving average price of $80.42.
Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Friday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.23. Merck & Co., Inc. had a return on equity of 52.94% and a net margin of 22.20%. The firm had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $10.52 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Merck & Co., Inc. will post 5.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $2.44 annualized dividend and a yield of 3.06%. Merck & Co., Inc.’s dividend payout ratio (DPR) is currently 47.01%.
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Merck & Co., Inc. from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada reissued a “hold” rating on shares of Merck & Co., Inc. in a research note on Tuesday, August 4th. Berenberg Bank assumed coverage on Merck & Co., Inc. in a research note on Tuesday, September 29th. They set a “hold” rating and a $88.00 price objective for the company. ValuEngine lowered Merck & Co., Inc. from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Finally, Goldman Sachs Group raised Merck & Co., Inc. from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $91.00 to $105.00 in a research note on Monday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. Merck & Co., Inc. has an average rating of “Buy” and a consensus target price of $95.08.
Merck & Co., Inc. Company Profile
Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.
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