Trade Report: The Mckinley Capital Management LLC Delaware reduces its investment in Merck & Co. (MRK)

The Mckinley Capital Management LLC Delaware reduces its investment in Merck & Co. (MRK)

Mckinley Capital Management LLC Delaware decreased its stake in Merck & Co. (NYSE:MRK) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 6,279 shares of the company’s stock after selling 308 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Merck & Co. were worth $362,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Accredited Investors Inc. raised its position in shares of Merck & Co. by 0.3% in the first quarter. Accredited Investors Inc. now owns 9,125 shares of the company’s stock valued at $483,000 after buying an additional 23 shares during the period. Thomaspartners Inc. raised its position in shares of Merck & Co. by 0.3% in the first quarter. Thomaspartners Inc. now owns 9,024 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the period. QCI Asset Management Inc. NY raised its position in shares of Merck & Co. by 1.1% in the second quarter. QCI Asset Management Inc. NY now owns 2,382 shares of the company’s stock valued at $137,000 after buying an additional 27 shares during the period. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Merck & Co. by 0.8% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,738 shares of the company’s stock valued at $250,000 after buying an additional 39 shares during the period. Finally, Jackson Grant Investment Advisers Inc. raised its position in shares of Merck & Co. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,234 shares of the company’s stock valued at $302,000 after buying an additional 44 shares during the period. Institutional investors own 72.93% of the company’s stock.

Merck & Co. (NYSE:MRK) traded up 1.01% during trading on Thursday, reaching $62.28. The company had a trading volume of 3,442,853 shares. The firm’s 50 day moving average is $62.58 and its 200 day moving average is $58.61. Merck & Co. has a one year low of $47.97 and a one year high of $64.86. The company has a market capitalization of $172.22 billion, a PE ratio of 34.16 and a beta of 0.68.

Merck & Co. (NYSE:MRK) last released its earnings results on Friday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Merck & Co. had a return on equity of 23.41% and a net margin of 13.01%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. On average, equities research analysts predict that Merck & Co. will post $3.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.98%. Merck & Co.’s dividend payout ratio is 101.10%.

A number of brokerages have recently weighed in on MRK. Argus reaffirmed a “buy” rating and set a $65.00 target price on shares of Merck & Co. in a research report on Wednesday, September 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $62.00 target price on shares of Merck & Co. in a research report on Tuesday, August 2nd. Barclays PLC reaffirmed an “overweight” rating on shares of Merck & Co. in a research report on Wednesday. Jefferies Group upped their target price on Merck & Co. from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, July 14th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $62.00 target price (up from $58.00) on shares of Merck & Co. in a research report on Monday, August 8th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Merck & Co. has an average rating of “Hold” and an average target price of €64.74 ($71.93).

In related news, EVP Clark Golestani sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of €63.03 ($70.03), for a total value of €189,090.00 ($210,100.00). The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Weir Mirian M. Graddick sold 40,800 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was 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 directly owns 128,973 shares in the company, valued at approximately €8,005,354.11 ($8,894,837.90). The disclosure for this sale can be found here. 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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