Mengis Capital Management Inc. raised its position in Merck & Co. (NYSE:MRK) by 55.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,280 shares of the company’s stock after buying an additional 11,900 shares during the period. Merck & Co. comprises 1.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 21st largest position. Mengis Capital Management Inc.’s holdings in Merck & Co. were worth $1,917,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Merck & Co. during the second quarter worth approximately $115,000. NewSquare Capital LLC raised its position in shares of Merck & Co. by 14.2% in the second quarter. NewSquare Capital LLC now owns 2,104 shares of the company’s stock worth $121,000 after buying an additional 261 shares during the period. First New York Securities LLC NY acquired a new position in shares of Merck & Co. during the second quarter worth approximately $121,000. QCI Asset Management Inc. NY raised its position in shares of Merck & Co. by 1.1% in the second quarter. QCI Asset Management Inc. NY now owns 2,382 shares of the company’s stock worth $137,000 after buying an additional 27 shares during the period. Finally, Lowe fs LLC raised its position in shares of Merck & Co. by 1.8% in the second quarter. Lowe fs LLC now owns 2,619 shares of the company’s stock worth $151,000 after buying an additional 46 shares during the period. Institutional investors own 72.93% of the company’s stock.
Merck & Co. (NYSE:MRK) traded down 0.27% on Tuesday, reaching $62.35. 2,729,186 shares of the company traded hands. The company has a market capitalization of $172.41 billion, a PE ratio of 34.20 and a beta of 0.68. The stock’s 50 day moving average price is $62.73 and its 200 day moving average price is $58.19. Merck & Co. has a one year low of $47.97 and a one year high of $64.00.
Merck & Co. (NYSE:MRK) last posted its earnings results on Friday, July 29th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Merck & Co. had a net margin of 13.01% and a return on equity of 23.41%. The firm earned $9.84 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the company posted $0.86 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Merck & Co. will post $3.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.94%. Merck & Co.’s dividend payout ratio is 101.10%.
A number of equities analysts have recently commented on MRK shares. Vetr raised shares of Merck & Co. from a “sell” rating to a “buy” rating and set a $62.26 target price for the company in a research note on Monday, July 4th. Argus reissued a “buy” rating on shares of Merck & Co. in a research note on Thursday, June 9th. Jefferies Group lifted their target price on shares of Merck & Co. from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Leerink Swann reissued a “hold” rating and set a $58.00 target price on shares of Merck & Co. in a research note on Thursday, July 14th. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $59.00 target price on shares of Merck & Co. in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. Merck & Co. has an average rating of “Hold” and a consensus price target of €63.20 ($70.23).
In other news, Chairman Kenneth C. Frazier sold 392,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of €61.81 ($68.68), for a total value of €24,229,520.00 ($26,921,688.89). Following the completion of the sale, the chairman now directly owns 760,877 shares of the company’s stock, valued at approximately €47,029,807.37 ($52,255,341.52). The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Adam H. Schechter sold 39,200 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of €62.61 ($69.57), for a total transaction of €2,454,312.00 ($2,727,013.33). Following the completion of the sale, the executive vice president now directly owns 39,200 shares of the company’s stock, valued at €2,454,312 ($2,727,013.33). The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.
Merck & Co. 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, 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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