Sandy Spring Bank trimmed its position in Merck & Co., Inc. (NYSE:MRK) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,510 shares of the company’s stock after selling 7,550 shares during the quarter. Sandy Spring Bank’s holdings in Merck & Co., Inc. were worth $5,157,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. JJJ Advisors Inc. acquired a new position in Merck & Co., Inc. in the 2nd quarter valued at about $27,000. PRW Wealth Management LLC acquired a new position in Merck & Co., Inc. in the 4th quarter valued at about $41,000. Aspire Private Capital LLC acquired a new position in Merck & Co., Inc. in the 4th quarter valued at about $55,000. Thor Advisors LLC acquired a new position in Merck & Co., Inc. in the 1st quarter valued at about $69,000. Finally, Contravisory Investment Management Inc. grew its stake in Merck & Co., Inc. by 19.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 858 shares of the company’s stock valued at $72,000 after buying an additional 141 shares during the last quarter. 75.34% of the stock is currently owned by institutional investors.
Shares of NYSE:MRK traded down $0.23 on Thursday, reaching $83.17. 248,311 shares of the company’s stock were exchanged, compared to its average volume of 9,473,427. The company’s fifty day moving average price is $83.37. Merck & Co., Inc. has a twelve month low of $66.10 and a twelve month high of $87.07. The firm has a market cap of $219.45 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 1.74 and a beta of 0.56. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, September 13th. This represents a $2.20 annualized dividend and a dividend yield of 2.65%. Merck & Co., Inc.’s dividend payout ratio is 50.69%.
MRK has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Merck & Co., Inc. from $84.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Bank of America set a $97.00 price target on shares of Merck & Co., Inc. and gave the company a “buy” rating in a research note on Thursday, July 11th. Mizuho restated a “buy” rating and set a $97.00 target price on shares of Merck & Co., Inc. in a research report on Monday, August 5th. Argus increased their target price on shares of Merck & Co., Inc. to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group increased their target price on shares of Merck & Co., Inc. from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $91.07.
In related news, CFO Robert M. Davis sold 216,718 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $85.43, for a total transaction of $18,514,218.74. Following the sale, the chief financial officer now owns 354,378 shares in the company, valued at approximately $30,274,512.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard R. Deluca sold 6,427 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.09, for a total transaction of $546,873.43. Following the sale, the executive vice president now owns 103,223 shares in the company, valued at approximately $8,783,245.07. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
Merck & Co., Inc. Profile
Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.
Further Reading: Cost of Goods Sold (COGS)
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