The Merck & Co. (MRK) Stake Boosted by Arrow Financial Corp

The Merck & Co. (MRK) Stake Boosted by Arrow Financial Corp

Arrow Financial Corp boosted its stake in shares of Merck & Co. (NYSE:MRK) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,402 shares of the company’s stock after buying an additional 386 shares during the period. Merck & Co. accounts for about 1.2% of Arrow Financial Corp’s portfolio, making the stock its 23rd largest position. Arrow Financial Corp’s holdings in Merck & Co. were worth $4,517,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Orbis Allan Gray Ltd purchased a new stake in shares of Merck & Co. during the first quarter valued at approximately $239,761,000. Bank of Montreal Can purchased a new stake in shares of Merck & Co. during the second quarter valued at approximately $250,542,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Merck & Co. during the first quarter valued at approximately $174,068,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Merck & Co. during the first quarter valued at approximately $67,685,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Merck & Co. by 326.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,626,461 shares of the company’s stock valued at $86,056,000 after buying an additional 1,245,129 shares during the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

Merck & Co. (NYSE:MRK) traded down 4.00% during trading on Friday, hitting $58.84. 20,358,443 shares of the company were exchanged. Merck & Co. has a 12 month low of $47.97 and a 12 month high of $64.86. The stock’s 50-day moving average is $62.10 and its 200-day moving average is $59.19. The company has a market capitalization of $162.70 billion, a price-to-earnings ratio of 30.05 and a beta of 0.68.

Merck & Co. (NYSE:MRK) last posted its earnings results on Tuesday, October 25th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Merck & Co. had a net margin of 13.76% and a return on equity of 24.24%. The firm earned $10.50 billion during the quarter, compared to analysts’ expectations of $10.17 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Merck & Co. will post $3.76 earnings per share for the current year.

Several analysts have recently commented on MRK shares. Citigroup Inc. restated a “neutral” rating and set a $65.00 price objective on shares of Merck & Co. in a research report on Wednesday, August 10th. BMO Capital Markets upgraded shares of Merck & Co. from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $62.00 to $72.00 in a research report on Friday, August 5th. Morgan Stanley set a $60.00 price objective on shares of Merck & Co. and gave the company a “hold” rating in a research report on Tuesday, September 13th. Bank of America Corp. upgraded shares of Merck & Co. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $70.00 in a research report on Thursday, October 13th. Finally, Vetr upgraded 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 report on Monday, July 4th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of €66.46 ($73.03).

In other Merck & Co. news, EVP Clark Golestani sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of €63.03 ($69.26), for a total transaction of €189,090.00 ($207,791.21). The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Adam H. Schechter sold 39,200 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of €62.61 ($68.80), for a total transaction of €2,454,312.00 ($2,697,046.15). Following the transaction, the executive vice president now owns 39,200 shares of the company’s stock, valued at €2,454,312 ($2,697,046.15). The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.

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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