Aviance Capital Partners LLC Invests $173,000 in Organon & Co. (NYSE:OGN)

Aviance Capital Partners LLC acquired a new position in Organon & Co. (NYSE:OGN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,965 shares of the company’s stock, valued at approximately $173,000.

Several other large investors have also added to or reduced their stakes in OGN. Lindbrook Capital LLC boosted its holdings in shares of Organon & Co. by 348.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after buying an additional 1,428 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Organon & Co. by 495.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after purchasing an additional 1,333 shares during the period. Headlands Technologies LLC acquired a new stake in Organon & Co. in the 3rd quarter valued at about $35,000. GAMMA Investing LLC bought a new position in Organon & Co. during the fourth quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC increased its position in Organon & Co. by 97.7% during the third quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock worth $39,000 after buying an additional 1,110 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

OGN has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. The Goldman Sachs Group increased their price target on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd.

Organon & Co. Stock Down 0.2 %

Shares of Organon & Co. stock traded down $0.05 on Wednesday, hitting $20.35. The stock had a trading volume of 454,636 shares, compared to its average volume of 2,701,825. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 0.88 and a beta of 0.81. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.08. The business’s 50 day moving average is $18.30 and its two-hundred day moving average is $15.82.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. As a group, equities analysts predict that Organon & Co. will post 4.1 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Monday, May 13th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.50%. The ex-dividend date is Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is 27.38%.

Insider Buying and Selling at Organon & Co.

In related news, insider Kirke Weaver acquired 2,720 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was purchased at an average cost of $18.36 per share, with a total value of $49,939.20. Following the acquisition, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.17% of the company’s stock.

Organon & Co. Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.