World Asset Management Inc lessened its position in shares of Merck & Co., Inc. (NYSE:MRK) by 1.6% during the second quarter, HoldingsChannel.com reports. The fund owned 70,378 shares of the company’s stock after selling 1,116 shares during the period. World Asset Management Inc’s holdings in Merck & Co., Inc. were worth $5,473,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MRK. Cowen Prime Advisors LLC bought a new stake in Merck & Co., Inc. during the 2nd quarter worth approximately $31,000. AlphaMark Advisors LLC bought a new position in shares of Merck & Co., Inc. in the 2nd quarter worth $39,000. Lake Point Wealth Management bought a new position in shares of Merck & Co., Inc. during the 2nd quarter valued at $40,000. ShoreHaven Wealth Partners LLC grew its holdings in shares of Merck & Co., Inc. by 55.5% during the 1st quarter. ShoreHaven Wealth Partners LLC now owns 619 shares of the company’s stock valued at $48,000 after purchasing an additional 221 shares during the last quarter. Finally, Solstein Capital LLC bought a new position in shares of Merck & Co., Inc. during the 1st quarter valued at $54,000. 71.83% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MRK traded up $0.52 during trading hours on Wednesday, hitting $72.63. 265,384 shares of the stock traded hands, compared to its average volume of 11,229,302. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 0.72. Merck & Co., Inc. has a 1 year low of $71.71 and a 1 year high of $86.30. The company has a market cap of $183.85 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 2.16 and a beta of 0.41. The stock has a 50 day moving average price of $76.68 and a 200 day moving average price of $76.59.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 7th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, September 14th. Merck & Co., Inc.’s dividend payout ratio is currently 43.77%.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Merck & Co., Inc. from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a report on Tuesday, August 24th. Truist Securities initiated coverage on shares of Merck & Co., Inc. in a research note on Tuesday, July 27th. They set a “buy” rating and a $76.79 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Merck & Co., Inc. from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 9th. Truist started coverage on shares of Merck & Co., Inc. in a research note on Tuesday, July 27th. They issued a “buy” rating and a $92.00 price target for the company. Finally, Morgan Stanley lowered shares of Merck & Co., Inc. from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $90.00 to $85.00 in a research note on Tuesday, September 7th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $91.09.
Merck & Co., Inc. Company Profile
Merck & Co, Inc engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.
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