FineMark National Bank & Trust increased its stake in Merck & Co. (NYSE:MRK) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,378 shares of the company’s stock after buying an additional 8,523 shares during the period. Merck & Co. accounts for about 1.2% of FineMark National Bank & Trust’s holdings, making the stock its 16th largest position. FineMark National Bank & Trust’s holdings in Merck & Co. were worth $10,794,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. UMB Bank N A MO raised its position in Merck & Co. by 0.3% in the first quarter. UMB Bank N A MO now owns 306,974 shares of the company’s stock valued at $16,242,000 after buying an additional 903 shares during the last quarter. Cornerstone Investment Partners LLC raised its position in Merck & Co. by 3.8% in the first quarter. Cornerstone Investment Partners LLC now owns 17,071 shares of the company’s stock valued at $903,000 after buying an additional 622 shares during the last quarter. OLD National Bancorp IN raised its position in Merck & Co. by 5.0% in the first quarter. OLD National Bancorp IN now owns 93,883 shares of the company’s stock valued at $4,967,000 after buying an additional 4,484 shares during the last quarter. Murphy Pohlad Asset Management LLC raised its position in Merck & Co. by 24.7% in the first quarter. Murphy Pohlad Asset Management LLC now owns 13,219 shares of the company’s stock valued at $699,000 after buying an additional 2,620 shares during the last quarter. Finally, PM CAPITAL Ltd bought a new position in Merck & Co. during the first quarter valued at about $15,714,000. Institutional investors and hedge funds own 72.93% of the company’s stock.
Merck & Co. (NYSE:MRK) traded up 0.18% during mid-day trading on Friday, hitting $62.77. The company’s stock had a trading volume of 10,775,249 shares. The firm’s 50-day moving average is $62.66 and its 200-day moving average is $58.40. Merck & Co. has a 12-month low of $47.97 and a 12-month high of $64.00. The company has a market cap of $173.57 billion, a P/E ratio of 34.43 and a beta of 0.68.
Merck & Co. (NYSE:MRK) last released its earnings results on Friday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Merck & Co. had a return on equity of 23.41% and a net margin of 13.01%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts predict that Merck & Co. will post $3.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Thursday, September 15th were paid a $0.46 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.84 annualized dividend and a yield of 2.93%. Merck & Co.’s dividend payout ratio (DPR) is currently 101.10%.
Several equities analysts recently issued reports on MRK shares. Jefferies Group reduced their price target on Merck & Co. from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Tuesday, June 14th. BMO Capital Markets restated an “outperform” rating and set a $62.00 price target on shares of Merck & Co. in a research report on Tuesday, June 28th. Vetr upgraded Merck & Co. from a “sell” rating to a “buy” rating and set a $62.26 price objective for the company in a report on Monday, July 4th. Credit Suisse Group AG reiterated a “hold” rating and issued a $59.00 price objective on shares of Merck & Co. in a report on Wednesday, July 6th. Finally, Leerink Swann reiterated a “hold” rating and issued a $58.00 price objective on shares of Merck & Co. in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of €63.20 ($70.23).
In related news, Chairman Kenneth C. Frazier sold 392,000 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was 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 transaction, the chairman now owns 760,877 shares of the company’s stock, valued at €47,029,807.37 ($52,255,341.52). The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Clark Golestani sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of €63.03 ($70.03), for a total value of €189,090.00 ($210,100.00). The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
About Merck & Co.
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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