Trade Report: Today, Cape Cod Five Cents Savings Bank lowers its Position in Merck & Co. (MRK)

Today, Cape Cod Five Cents Savings Bank lowers its Position in Merck & Co. (MRK)

Cape Cod Five Cents Savings Bank reduced its stake in shares of Merck & Co. (NYSE:MRK) by 3.6% during the third quarter, Holdings Channel reports. The institutional investor owned 45,686 shares of the company’s stock after selling 1,717 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Merck & Co. were worth $2,851,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Merck & Co. by 1.9% in the second quarter. Vanguard Group Inc. now owns 174,819,694 shares of the company’s stock valued at $10,071,362,000 after buying an additional 3,242,254 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Merck & Co. by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 74,363,785 shares of the company’s stock valued at $4,284,098,000 after buying an additional 535,407 shares in the last quarter. BlackRock Fund Advisors raised its stake in Merck & Co. by 4.0% in the second quarter. BlackRock Fund Advisors now owns 44,732,600 shares of the company’s stock valued at $2,577,045,000 after buying an additional 1,701,520 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Merck & Co. by 6.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 26,224,184 shares of the company’s stock valued at $1,510,776,000 after buying an additional 1,531,565 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Merck & Co. by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 22,992,642 shares of the company’s stock valued at $1,324,996,000 after buying an additional 4,468,488 shares in the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.

Merck & Co. (NYSE:MRK) traded up 0.92% on Friday, hitting $62.21. 3,501,268 shares of the stock traded hands. Merck & Co. has a 12-month low of $47.97 and a 12-month high of $65.46. The firm has a market cap of $171.52 billion, a price-to-earnings ratio of 31.77 and a beta of 0.76. The stock has a 50-day moving average of $61.63 and a 200-day moving average of $60.02.

Merck & Co. (NYSE:MRK) last posted its earnings results on Tuesday, October 25th. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company earned $10.50 billion during the quarter, compared to the consensus estimate of $10.17 billion. Merck & Co. had a net margin of 13.76% and a return on equity of 24.25%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. Analysts forecast that Merck & Co. will post $3.78 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Thursday, December 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Merck & Co.’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, December 13th. Merck & Co.’s payout ratio is presently 93.88%.

MRK has been the topic of a number of analyst reports. Barclays PLC raised their target price on shares of Merck & Co. from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, September 9th. Jefferies Group raised their target price on shares of Merck & Co. from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of Merck & Co. from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, October 14th. Morgan Stanley set a $60.00 target price on shares of Merck & Co. and gave the stock a “hold” rating in a research report on Tuesday, September 13th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $74.00 target price (up previously from $66.00) on shares of Merck & Co. in a research report on Thursday, August 11th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Merck & Co. has an average rating of “Hold” and a consensus price target of $66.24.

In other news, Chairman Kenneth C. Frazier sold 140,000 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $65.03, for a total value of $9,104,200.00. Following the completion of the sale, the chairman now directly owns 514,957 shares in the company, valued at $33,487,653.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rochelle B. Lazarus sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $59.06, for a total transaction of $1,181,200.00. Following the completion of the sale, the director now owns 9,594 shares of the company’s stock, valued at $566,621.64. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by 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.

Related posts

Leave a Comment