Beaumont Financial Partners LLC grew its stake in Merck & Co., Inc. (NYSE:MRK) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,090 shares of the company’s stock after purchasing an additional 875 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Merck & Co., Inc. were worth $5,114,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Taylor Wealth Management Partners bought a new position in Merck & Co., Inc. in the 2nd quarter worth $110,000. Lenox Wealth Advisors LLC grew its position in shares of Merck & Co., Inc. by 86.5% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,656 shares of the company’s stock worth $117,000 after buying an additional 768 shares during the period. WESPAC Advisors SoCal LLC purchased a new stake in shares of Merck & Co., Inc. in the 3rd quarter worth about $118,000. Atlantic Trust LLC purchased a new stake in shares of Merck & Co., Inc. in the 2nd quarter worth about $127,000. Finally, Squar Milner Financial Services LLC purchased a new stake in shares of Merck & Co., Inc. in the 2nd quarter worth about $133,000. Institutional investors and hedge funds own 72.72% of the company’s stock.
In other news, major shareholder Merck & Co., Inc. acquired 666,666 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $9,999,990.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard R. Deluca sold 25,467 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $72.00, for a total transaction of $1,833,624.00. Following the sale, the executive vice president now directly owns 82,135 shares in the company, valued at $5,913,720. The disclosure for this sale can be found here. Insiders have sold a total of 1,279,104 shares of company stock worth $92,845,846 over the last three months. 0.32% of the stock is currently owned by insiders.
Shares of MRK stock opened at $76.72 on Friday. Merck & Co., Inc. has a one year low of $52.83 and a one year high of $80.19. The stock has a market cap of $210.87 billion, a P/E ratio of 19.28, a PEG ratio of 2.13 and a beta of 0.71. The company has a current ratio of 1.44, a quick ratio of 1.15 and a debt-to-equity ratio of 0.61.
Merck & Co., Inc. (NYSE:MRK) last announced its quarterly earnings data on Thursday, October 25th. The company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.05. Merck & Co., Inc. had a net margin of 8.44% and a return on equity of 34.48%. The company had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.87 billion. On average, analysts forecast that Merck & Co., Inc. will post 4.34 EPS for the current year.
Merck & Co., Inc. announced that its Board of Directors has approved a stock buyback plan on Thursday, October 25th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Monday, December 17th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.87%. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, December 14th. Merck & Co., Inc.’s dividend payout ratio is 48.24%.
Merck & Co., Inc. Company 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.
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