Geneva Advisors LLC Sells 61,940 Shares of Merck & Co. (MRK)
Geneva Advisors LLC lowered its stake in Merck & Co. (NYSE:MRK) by 6.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 917,168 shares of the company’s stock after selling 61,940 shares during the period. Geneva Advisors LLC’s holdings in Merck & Co. were worth $52,838,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. PM CAPITAL Ltd acquired a new position in shares of Merck & Co. during the first quarter valued at approximately $15,714,000. Lincluden Management Ltd. boosted its position in shares of Merck & Co. by 13.7% in the first quarter. Lincluden Management Ltd. now owns 34,155 shares of the company’s stock valued at $1,807,000 after buying an additional 4,115 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Merck & Co. by 3.6% in the first quarter. ST Germain D J Co. Inc. now owns 5,430 shares of the company’s stock valued at $287,000 after buying an additional 190 shares in the last quarter. Lodestar Investment Counsel LLC IL boosted its position in shares of Merck & Co. by 11.0% in the first quarter. Lodestar Investment Counsel LLC IL now owns 143,109 shares of the company’s stock valued at $7,572,000 after buying an additional 14,189 shares in the last quarter. Finally, Vicus Capital boosted its position in shares of Merck & Co. by 0.3% in the first quarter. Vicus Capital now owns 11,121 shares of the company’s stock valued at $588,000 after buying an additional 37 shares in the last quarter. 72.93% of the stock is currently owned by institutional investors.
Merck & Co. (NYSE:MRK) traded up 2.33% on Monday, reaching $64.23. 7,842,936 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $62.66 and its 200 day moving average price is $58.40. The company has a market cap of $177.61 billion, a PE ratio of 35.23 and a beta of 0.68. Merck & Co. has a 52-week low of $47.97 and a 52-week high of $64.86.
Merck & Co. (NYSE:MRK) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The company earned $9.84 billion during the quarter, compared to analyst estimates of $9.79 billion. Merck & Co. had a net margin of 13.01% and a return on equity of 23.41%. Merck & Co.’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. On average, analysts expect that Merck & Co. will post $3.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Thursday, September 15th were paid a $0.46 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.93%. Merck & Co.’s payout ratio is 101.10%.
MRK has been the topic of several recent research reports. Jefferies Group lowered their target price on shares of Merck & Co. from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Tuesday, June 14th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective on shares of Merck & Co. in a research note on Tuesday, June 28th. Vetr raised shares of Merck & Co. from a “sell” rating to a “buy” rating and set a $62.26 price objective on the stock in a research note on Monday, July 4th. Credit Suisse Group AG reissued a “hold” rating and issued a $59.00 price objective on shares of Merck & Co. in a research note on Wednesday, July 6th. Finally, Leerink Swann reissued a “hold” rating and issued a $58.00 price objective on shares of Merck & Co. in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of €63.20 ($70.23).
In other Merck & Co. news, Chairman Kenneth C. Frazier sold 392,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of €61.81 ($68.68), for a total transaction of €24,229,520.00 ($26,921,688.89). Following the completion of the sale, the chairman now directly owns 760,877 shares in the company, valued at approximately €47,029,807.37 ($52,255,341.52). The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Weir Mirian M. Graddick sold 40,800 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of €62.07 ($68.97), for a total transaction of €2,532,456.00 ($2,813,840.00). Following the sale, the insider now owns 128,973 shares of the company’s stock, valued at €8,005,354.11 ($8,894,837.90). The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
About Merck & Co.
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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