Harrison & Co Wealth Management LLC grew its holdings in shares of Merck & Co., Inc. (NYSE:MRK – Get Rating) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,630 shares of the company’s stock after acquiring an additional 258 shares during the quarter. Harrison & Co Wealth Management LLC’s holdings in Merck & Co., Inc. were worth $969,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in MRK. Joseph P. Lucia & Associates LLC acquired a new position in shares of Merck & Co., Inc. in the first quarter valued at approximately $25,000. Landmark Wealth Management LLC bought a new stake in Merck & Co., Inc. in the first quarter valued at approximately $25,000. Front Row Advisors LLC boosted its holdings in Merck & Co., Inc. by 89.4% in the fourth quarter. Front Row Advisors LLC now owns 339 shares of the company’s stock valued at $26,000 after acquiring an additional 160 shares during the last quarter. Okabena Investment Services Inc. bought a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $27,000. Finally, Western Pacific Wealth Management LP bought a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on MRK. Daiwa Capital Markets upgraded Merck & Co., Inc. from a “neutral” rating to a “buy” rating and upped their target price for the company from $89.00 to $102.00 in a report on Wednesday, July 6th. UBS Group upped their target price on Merck & Co., Inc. from $76.00 to $98.00 and gave the company a “neutral” rating in a report on Monday, July 18th. Atlantic Securities upped their target price on Merck & Co., Inc. from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Mizuho initiated coverage on Merck & Co., Inc. in a report on Friday, June 24th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Cowen increased their price target on Merck & Co., Inc. from $95.00 to $102.00 and gave the stock a “market perform” rating in a report on Monday, June 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.28.
Merck & Co., Inc. Price Performance
Merck & Co., Inc. (NYSE:MRK – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.20. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $13.85 billion. Merck & Co., Inc. had a return on equity of 48.45% and a net margin of 29.00%. Merck & Co., Inc.’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. Sell-side analysts forecast that Merck & Co., Inc. will post 7.33 EPS for the current fiscal year.
Merck & Co., Inc. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 15th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, September 14th. Merck & Co., Inc.’s payout ratio is currently 42.27%.
About Merck & Co., Inc.
Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.
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