Legacy Capital Partners Inc. Cuts Position in Merck & Company, Inc. (MRK)

Legacy Capital Partners Inc. Cuts Position in Merck & Company, Inc. (MRK)

Legacy Capital Partners Inc. cut its position in shares of Merck & Company, Inc. (NYSE:MRK) by 85.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,450 shares of the company’s stock after selling 20,829 shares during the period. Legacy Capital Partners Inc.’s holdings in Merck & Company were worth $216,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in Merck & Company by 2.8% in the second quarter. BNP Paribas Arbitrage SA now owns 883,353 shares of the company’s stock valued at $50,890,000 after buying an additional 23,793 shares during the last quarter. Banced Corp boosted its position in Merck & Company by 21.8% in the second quarter. Banced Corp now owns 6,645 shares of the company’s stock valued at $328,000 after buying an additional 1,188 shares during the last quarter. LS Investment Advisors LLC boosted its position in Merck & Company by 4.6% in the second quarter. LS Investment Advisors LLC now owns 101,189 shares of the company’s stock valued at $5,829,000 after buying an additional 4,481 shares during the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC boosted its position in Merck & Company by 0.7% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 102,806 shares of the company’s stock valued at $5,923,000 after buying an additional 751 shares during the last quarter. Finally, OLD Second National Bank of Aurora boosted its position in Merck & Company by 1.4% in the second quarter. OLD Second National Bank of Aurora now owns 39,162 shares of the company’s stock valued at $2,256,000 after buying an additional 535 shares during the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.

Shares of Merck & Company, Inc. (NYSE:MRK) traded up 0.678% on Friday, hitting $61.615. The company’s stock had a trading volume of 3,526,741 shares. The company has a market cap of $169.88 billion, a price-to-earnings ratio of 31.468 and a beta of 0.77. Merck & Company, Inc. has a 52 week low of $47.97 and a 52 week high of $65.46. The stock’s 50 day moving average is $60.83 and its 200-day moving average is $61.38.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Thursday, December 15th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.07%. This is a boost from Merck & Company’s previous quarterly dividend of $0.46. The ex-dividend date was Tuesday, December 13th. Merck & Company’s payout ratio is presently 95.92%.

MRK has been the subject of several analyst reports. Vetr cut Merck & Company from a “buy” rating to a “hold” rating and set a $64.84 price objective for the company. in a research report on Monday, October 10th. Barclays PLC reaffirmed an “overweight” rating on shares of Merck & Company in a research report on Wednesday, October 12th. Leerink Swann reaffirmed a “market perform” rating and set a $65.00 price objective on shares of Merck & Company in a research report on Wednesday, October 12th. Bank of America Corp raised Merck & Company from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $70.00 in a research report on Thursday, October 13th. Finally, Zacks Investment Research raised Merck & Company from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Merck & Company has an average rating of “Buy” and an average price target of $66.31.

In other news, EVP Julie L. Gerberding sold 85,523 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $60.02, for a total transaction of $5,133,090.46. Following the transaction, the executive vice president now directly owns 77,762 shares in the company, valued at approximately $4,667,275.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Kenneth C. Frazier sold 140,000 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $65.03, for a total transaction of $9,104,200.00. Following the transaction, the chairman now owns 514,957 shares in the company, valued at $33,487,653.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,523 shares of company stock worth $15,418,490. Corporate insiders own 0.05% of the company’s stock.

About Merck & Company

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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