Broderick Brian C cut its stake in Merck & Co. (NYSE:MRK) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 48,188 shares of the company’s stock after selling 1,130 shares during the period. Merck & Co. comprises approximately 1.2% of Broderick Brian C’s investment portfolio, making the stock its 28th largest position. Broderick Brian C’s holdings in Merck & Co. were worth $2,778,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Merck & Co. during the second quarter worth about $115,000. First New York Securities LLC NY purchased a new position in Merck & Co. during the second quarter worth $121,000. NewSquare Capital LLC increased its position in 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 in the last quarter. QCI Asset Management Inc. NY increased its position in 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 in the last quarter. Finally, Lowe fs LLC increased its position in 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 in the last quarter. 72.93% of the stock is currently owned by institutional investors.
Merck & Co. (NYSE:MRK) traded down 1.274% during mid-day trading on Tuesday, reaching $63.086. The company’s stock had a trading volume of 2,373,843 shares. The firm has a market cap of $174.45 billion, a PE ratio of 34.606 and a beta of 0.68. The stock’s 50 day moving average is $62.68 and its 200 day moving average is $58.56. Merck & Co. has a one year low of $47.97 and a one year high of $64.86.
Merck & Co. (NYSE:MRK) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Merck & Co. had a return on equity of 23.41% and a net margin of 13.01%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, analysts anticipate that Merck & Co. will post $3.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Thursday, September 15th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Tuesday, September 13th. Merck & Co.’s payout ratio is currently 101.10%.
Several equities analysts have weighed in on MRK shares. Vetr upgraded Merck & Co. from a “sell” rating to a “buy” rating and set a $62.26 price target for the company in a report on Monday, July 4th. Argus reiterated a “buy” rating and issued a $65.00 target price on shares of Merck & Co. in a report on Wednesday, September 14th. Jefferies Group dropped their target price on Merck & Co. from $54.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday, June 14th. Deutsche Bank AG lifted their target price on Merck & Co. from $58.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, August 8th. Finally, Leerink Swann reiterated a “hold” rating and issued a $58.00 target price on shares of Merck & Co. in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. Merck & Co. presently has an average rating of “Hold” and a consensus target price of €63.37 ($70.41).
In other news, EVP Clark Golestani sold 3,000 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Adam H. Schechter sold 39,200 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of €62.61 ($69.57), for a total value of €2,454,312.00 ($2,727,013.33). Following the completion of the sale, the executive vice president now owns 39,200 shares in the company, valued at €2,454,312 ($2,727,013.33). The disclosure for this sale can be found here. 0.05% of the stock is owned by 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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