Cardinal Capital Management Inc. Has $34.99 Million Stake in Merck & Co., Inc. (NYSE:MRK)

Cardinal Capital Management Inc. lowered its position in Merck & Co., Inc. (NYSE:MRKGet Rating) by 0.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 383,766 shares of the company’s stock after selling 1,378 shares during the period. Merck & Co., Inc. accounts for approximately 1.9% of Cardinal Capital Management Inc.’s portfolio, making the stock its 13th largest position. Cardinal Capital Management Inc.’s holdings in Merck & Co., Inc. were worth $34,988,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stillwater Capital Advisors LLC increased its stake in shares of Merck & Co., Inc. by 1.0% in the 2nd quarter. Stillwater Capital Advisors LLC now owns 209,366 shares of the company’s stock valued at $19,088,000 after acquiring an additional 2,170 shares in the last quarter. Santori & Peters Inc. increased its stake in shares of Merck & Co., Inc. by 8.5% in the 2nd quarter. Santori & Peters Inc. now owns 3,523 shares of the company’s stock valued at $321,000 after acquiring an additional 275 shares in the last quarter. Franklin Street Advisors Inc. NC increased its stake in shares of Merck & Co., Inc. by 13.7% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 16,022 shares of the company’s stock valued at $1,461,000 after acquiring an additional 1,925 shares in the last quarter. Monterey Private Wealth Inc. increased its stake in shares of Merck & Co., Inc. by 4.5% in the 2nd quarter. Monterey Private Wealth Inc. now owns 5,955 shares of the company’s stock valued at $543,000 after acquiring an additional 256 shares in the last quarter. Finally, IMS Capital Management increased its stake in shares of Merck & Co., Inc. by 20.1% in the 2nd quarter. IMS Capital Management now owns 16,147 shares of the company’s stock valued at $1,472,000 after acquiring an additional 2,704 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $87.51 on Friday. Merck & Co., Inc. has a 1 year low of $71.50 and a 1 year high of $95.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.15. The firm has a market cap of $221.69 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.14 and a beta of 0.33. The company has a fifty day moving average price of $88.83 and a 200-day moving average price of $87.81.

Merck & Co., Inc. (NYSE:MRKGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.20. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $13.85 billion. Merck & Co., Inc. had a net margin of 29.00% and a return on equity of 48.45%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. As a group, equities research analysts predict that Merck & Co., Inc. will post 7.33 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 15th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, September 14th. Merck & Co., Inc.’s dividend payout ratio (DPR) is currently 42.27%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cowen lifted their price objective on shares of Merck & Co., Inc. from $95.00 to $102.00 and gave the company a “market perform” rating in a research note on Monday, June 27th. Erste Group Bank upgraded shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Atlantic Securities boosted their price target on shares of Merck & Co., Inc. from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Berenberg Bank upgraded shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating and boosted their price target for the company from $95.00 to $100.00 in a research note on Wednesday, September 14th. Finally, SVB Leerink boosted their price target on shares of Merck & Co., Inc. from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.28.

Merck & Co., Inc. Company Profile

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Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.

Further Reading

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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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