A number of other institutional investors have also recently added to or reduced their stakes in the company. Montecito Bank & Trust boosted its position in Merck & by 10.4% in the first quarter. Montecito Bank & Trust now owns 13,111 shares of the company’s stock worth $833,000 after buying an additional 1,235 shares during the period. Haverford Trust Co. boosted its position in Merck & by 1.3% in the first quarter. Haverford Trust Co. now owns 691,129 shares of the company’s stock worth $43,914,000 after buying an additional 9,020 shares during the period. MUFG Americas Holdings Corp boosted its position in Merck & by 3.6% in the first quarter. MUFG Americas Holdings Corp now owns 476,592 shares of the company’s stock worth $30,282,000 after buying an additional 16,707 shares during the period. Busey Trust CO boosted its position in Merck & by 0.5% in the first quarter. Busey Trust CO now owns 79,181 shares of the company’s stock worth $5,032,000 after buying an additional 429 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Merck & by 28.8% in the first quarter. Pictet Asset Management Ltd. now owns 2,448,574 shares of the company’s stock worth $155,582,000 after buying an additional 547,202 shares during the period. Hedge funds and other institutional investors own 73.68% of the company’s stock.
Destination Wealth Management decreased its position in Merck & Company, Inc. (NYSE:MRK) by 8.8% during the first quarter, Holdings Channel reports. The firm owned 6,738 shares of the company’s stock after selling 654 shares during the period. Destination Wealth Management’s holdings in Merck & were worth $428,000 as of its most recent filing with the SEC.
Shares of Merck & Company, Inc. (NYSE:MRK) opened at 63.92 on Wednesday. Merck & Company, Inc. has a 52 week low of $57.18 and a 52 week high of $66.80. The firm has a market capitalization of $174.83 billion, a P/E ratio of 34.61 and a beta of 0.80. The company has a 50-day moving average of $63.65 and a 200 day moving average of $63.78.
Merck & (NYSE:MRK) last released its quarterly earnings results on Friday, July 28th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.14. Merck & had a net margin of 17.14% and a return on equity of 25.75%. The business had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.75 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts anticipate that Merck & Company, Inc. will post $3.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, September 14th. Merck &’s dividend payout ratio (DPR) is presently 76.11%.
A number of research firms have issued reports on MRK. Zacks Investment Research cut Merck & from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded Merck & from a “sell” rating to a “hold” rating in a report on Tuesday. UBS AG increased their target price on Merck & from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Piper Jaffray Companies set a $70.00 target price on Merck & and gave the stock a “buy” rating in a report on Saturday. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $74.00 target price (up previously from $70.00) on shares of Merck & in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $69.80.
In related news, Director C Robert Kidder sold 5,000 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $63.54, for a total transaction of $317,700.00. Following the transaction, the director now directly owns 14,317 shares in the company, valued at $909,702.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by insiders.
Merck & 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. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services and Alliances. 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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