Merck & Co. (MRK) Shares Bought by Genovese Burford & Brothers Wealth & Retirement Plan Management LLC
Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Merck & Co. (NYSE:MRK) by 19.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,782 shares of the company’s stock after buying an additional 924 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in Merck & Co. were worth $333,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Lodestar Investment Counsel LLC IL increased its position in Merck & Co. by 11.0% in the first quarter. Lodestar Investment Counsel LLC IL now owns 143,109 shares of the company’s stock worth $7,572,000 after buying an additional 14,189 shares during the last quarter. Vicus Capital increased its position in Merck & Co. by 0.3% in the first quarter. Vicus Capital now owns 11,121 shares of the company’s stock worth $588,000 after buying an additional 37 shares during the last quarter. Quantitative Systematic Strategies LLC increased its position in Merck & Co. by 126.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 15,422 shares of the company’s stock worth $821,000 after buying an additional 8,599 shares during the last quarter. First Manhattan Co. increased its position in Merck & Co. by 17.3% in the first quarter. First Manhattan Co. now owns 257,064 shares of the company’s stock worth $13,601,000 after buying an additional 37,835 shares during the last quarter. Finally, Douglas Lane & Associates LLC acquired a new position in Merck & Co. during the first quarter worth approximately $26,044,000. Institutional investors own 72.93% of the company’s stock.
Shares of Merck & Co. (NYSE:MRK) traded down 1.274% during midday trading on Tuesday, hitting $63.086. 2,373,843 shares of the stock traded hands. The company has a market capitalization of $174.45 billion, a price-to-earnings ratio of 34.606 and a beta of 0.68. The firm’s 50-day moving average is $62.68 and its 200 day moving average is $58.56. 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 data on Friday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business 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%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Equities analysts forecast that Merck & Co. will post $3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Thursday, September 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.84 dividend on an annualized basis and a yield of 2.88%. Merck & Co.’s dividend payout ratio (DPR) is presently 101.10%.
A number of equities analysts have recently commented on the stock. Vetr downgraded shares of Merck & Co. from a “buy” rating to a “hold” rating and set a $64.84 price objective for the company. in a report on Monday. Argus reaffirmed a “buy” rating and set a $65.00 price objective on shares of Merck & Co. in a report on Wednesday, September 14th. Morgan Stanley set a $60.00 price objective on shares of Merck & Co. and gave the stock a “hold” rating in a report on Tuesday, September 13th. Jefferies Group reaffirmed a “hold” rating and set a $56.00 price objective (down from $57.00) on shares of Merck & Co. in a report on Monday, September 12th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a $62.00 price objective on shares of Merck & Co. in a report on Sunday, September 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of €63.37 ($70.41).
In related news, insider Weir Mirian M. Graddick sold 40,800 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of €62.07 ($68.97), for a total value of €2,532,456.00 ($2,813,840.00). Following the completion of the transaction, the insider now owns 128,973 shares in the company, valued at approximately €8,005,354.11 ($8,894,837.90). The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Kenneth C. Frazier sold 392,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 760,877 shares of the company’s stock, valued at approximately €47,029,807.37 ($52,255,341.52). The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
Merck & Co. 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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