Coastline Trust Co reduced its position in shares of Merck & Co., Inc. (NYSE:MRK) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,925 shares of the company’s stock after selling 9,460 shares during the period. Coastline Trust Co’s holdings in Merck & Co., Inc. were worth $4,058,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp purchased a new position in Merck & Co., Inc. in the 2nd quarter worth about $32,000. Lake Point Wealth Management increased its stake in Merck & Co., Inc. by 159.0% in the 1st quarter. Lake Point Wealth Management now owns 518 shares of the company’s stock worth $40,000 after purchasing an additional 318 shares in the last quarter. Provident Wealth Management LLC purchased a new position in Merck & Co., Inc. in the 3rd quarter worth about $43,000. Estate Counselors LLC purchased a new position in Merck & Co., Inc. in the 2nd quarter worth about $45,000. Finally, Watson Rebecca purchased a new position in Merck & Co., Inc. in the 2nd quarter worth about $48,000. 73.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Merck & Co., Inc. stock opened at $79.83 on Friday. Merck & Co., Inc. has a 1 year low of $65.25 and a 1 year high of $92.64. The business has a 50-day moving average of $83.27 and a two-hundred day moving average of $80.42. The company has a market capitalization of $201.91 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.10 and a beta of 0.43. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.32 and a quick ratio of 1.05.
Merck & Co., Inc. (NYSE:MRK) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.23. Merck & Co., Inc. had a return on equity of 52.94% and a net margin of 22.20%. The company had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $10.52 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Merck & Co., Inc. will post 5.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th were issued a dividend of $0.61 per share. The ex-dividend date was Monday, September 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.06%. Merck & Co., Inc.’s payout ratio is presently 47.01%.
Several equities analysts have weighed in on MRK shares. Goldman Sachs Group raised Merck & Co., Inc. from a “neutral” rating to a “buy” rating and lifted their target price for the company from $91.00 to $105.00 in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on Merck & Co., Inc. from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley reiterated a “buy” rating and set a $89.00 price target on shares of Merck & Co., Inc. in a report on Tuesday, June 23rd. ValuEngine lowered Merck & Co., Inc. from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Berenberg Bank assumed coverage on Merck & Co., Inc. in a research report on Tuesday, September 29th. They set a “hold” rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $95.08.
In related news, insider Sanat Chattopadhyay sold 10,380 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $83.01, for a total transaction of $861,643.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert M. Davis sold 251,273 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $81.03, for a total value of $20,360,651.19. Following the transaction, the chief financial officer now owns 422,329 shares of the company’s stock, valued at $34,221,318.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,529 shares of company stock valued at $22,761,633. 0.28% of the stock is owned by corporate insiders.
Merck & Co., Inc. Profile
Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.
Further Reading: Why are analyst ratings important in trading stocks?
Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.