Prio Wealth Limited Partnership Sells 9,515 Shares of Merck & Co., Inc. (MRK)

Prio Wealth Limited Partnership lowered its stake in Merck & Co., Inc. (NYSE:MRK) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 537,848 shares of the company’s stock after selling 9,515 shares during the period. Merck & Co., Inc. makes up approximately 1.6% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 20th biggest position. Prio Wealth Limited Partnership’s holdings in Merck & Co., Inc. were worth $32,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Merck & Co., Inc. by 13.6% during the first quarter. Franklin Resources Inc. now owns 49,101,614 shares of the company’s stock valued at $2,674,552,000 after buying an additional 5,880,457 shares during the period. Bank of Montreal Can purchased a new position in shares of Merck & Co., Inc. during the second quarter valued at approximately $232,626,000. Pzena Investment Management LLC boosted its position in shares of Merck & Co., Inc. by 175.8% during the first quarter. Pzena Investment Management LLC now owns 4,524,430 shares of the company’s stock valued at $246,446,000 after buying an additional 2,883,906 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Merck & Co., Inc. during the second quarter valued at approximately $146,631,000. Finally, Natixis boosted its position in shares of Merck & Co., Inc. by 303.8% during the first quarter. Natixis now owns 3,040,858 shares of the company’s stock valued at $165,636,000 after buying an additional 2,287,728 shares during the period. Institutional investors own 72.19% of the company’s stock.

Several research analysts have issued reports on MRK shares. Barclays boosted their target price on Merck & Co., Inc. from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. SunTrust Banks restated a “buy” rating and set a $77.00 target price on shares of Merck & Co., Inc. in a research report on Thursday, August 16th. Zacks Investment Research lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating in a research report on Monday, June 18th. Morgan Stanley set a $74.00 target price on Merck & Co., Inc. and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, Bank of America lifted their price target on shares of Merck & Co., Inc. from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.93.

In related news, VP Rita A. Karachun sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $65.01, for a total value of $325,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanat Chattopadhyay sold 29,208 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $65.20, for a total transaction of $1,904,361.60. Following the completion of the transaction, the insider now directly owns 70,675 shares of the company’s stock, valued at approximately $4,608,010. The disclosure for this sale can be found here. Insiders have sold 262,299 shares of company stock valued at $17,055,327 in the last ninety days. Insiders own 0.32% of the company’s stock.

Merck & Co., Inc. stock opened at $69.98 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.61. Merck & Co., Inc. has a fifty-two week low of $52.83 and a fifty-two week high of $70.94. The company has a market cap of $188.36 billion, a PE ratio of 17.58, a P/E/G ratio of 2.41 and a beta of 0.81.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings results on Friday, July 27th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.03. Merck & Co., Inc. had a net margin of 3.67% and a return on equity of 32.68%. The firm had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.28 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. sell-side analysts predict that Merck & Co., Inc. will post 4.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Monday, September 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, September 14th. Merck & Co., Inc.’s dividend payout ratio is presently 48.24%.

Merck & Co., Inc. Profile

Merck & Co, Inc provides healthcare solutions worldwide. It operates in four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular diseases, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, and fertility diseases.

See Also: Asset Allocation and Your Retirement

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

Receive News & Ratings for Merck & Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merck & Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply