CIBC World Markets Inc. raised its position in shares of Merck & Company, Inc. (NYSE:MRK) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,524 shares of the company’s stock after buying an additional 9,812 shares during the period. CIBC World Markets Inc.’s holdings in Merck & Company were worth $10,642,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Merck & Company by 1.9% in the second quarter. Vanguard Group Inc. now owns 174,819,694 shares of the company’s stock worth $10,071,362,000 after buying an additional 3,242,254 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Merck & Company by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 74,363,785 shares of the company’s stock worth $4,284,098,000 after buying an additional 535,407 shares during the period. Bank of New York Mellon Corp raised its position in Merck & Company by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 56,714,385 shares of the company’s stock worth $3,539,544,000 after buying an additional 1,235,395 shares during the period. BlackRock Fund Advisors raised its position in Merck & Company by 4.0% in the second quarter. BlackRock Fund Advisors now owns 44,732,600 shares of the company’s stock worth $2,577,045,000 after buying an additional 1,701,520 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Merck & Company by 6.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 26,224,184 shares of the company’s stock worth $1,510,776,000 after buying an additional 1,531,565 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.
Shares of Merck & Company, Inc. (NYSE:MRK) traded up 4.51% during trading on Wednesday, hitting $62.62. 8,419,545 shares of the company traded hands. Merck & Company, Inc. has a 52 week low of $47.97 and a 52 week high of $65.46. The company has a market capitalization of $172.65 billion, a price-to-earnings ratio of 31.98 and a beta of 0.77. The company has a 50 day moving average price of $60.71 and a 200 day moving average price of $61.12.
Merck & Company (NYSE:MRK) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Merck & Company had a net margin of 13.76% and a return on equity of 24.25%. The business earned $10.50 billion during the quarter, compared to analysts’ expectations of $10.17 billion. During the same period last year, the company posted $0.96 EPS. The business’s revenue was up 4.6% on a year-over-year basis. On average, analysts expect that Merck & Company, Inc. will post $3.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Thursday, December 15th were paid a $0.47 dividend. This is a boost from Merck & Company’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Tuesday, December 13th. Merck & Company’s dividend payout ratio (DPR) is presently 95.92%.
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A number of research analysts have recently commented on MRK shares. Argus restated a “buy” rating and set a $80.00 price target (up from $65.00) on shares of Merck & Company in a research report on Thursday, October 27th. Vetr lowered shares of Merck & Company from a “sell” rating to a “strong sell” rating and set a $52.27 price target for the company. in a research report on Tuesday, December 27th. Bank of America Corporation raised shares of Merck & Company from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $70.00 in a report on Thursday, October 13th. Zacks Investment Research downgraded shares of Merck & Company from a “buy” rating to a “hold” rating in a report on Wednesday, December 7th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $65.00 price objective on shares of Merck & Company in a report on Sunday, October 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Merck & Company presently has a consensus rating of “Hold” and an average price target of $64.59.
In other Merck & Company news, EVP Julie L. Gerberding sold 85,523 shares of Merck & Company stock in a transaction on Monday, November 7th. The shares were sold at an average price of $60.02, for a total value of $5,133,090.46. Following the completion of the transaction, the executive vice president now directly owns 77,762 shares of the company’s stock, valued at approximately $4,667,275.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kenneth C. Frazier sold 140,000 shares of Merck & Company stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $65.03, for a total transaction of $9,104,200.00. Following the completion of the transaction, the chairman now directly owns 514,957 shares of the company’s stock, valued at $33,487,653.71. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Merck & Company Company Profile
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products, which it markets directly and through its joint ventures. It operates through one segment, Pharmaceutical. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
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