Azimuth Capital Investment Management LLC Cuts Stock Position in Merck & Co., Inc. (NYSE:MRK)

Key Points

• Azimuth Capital Investment Management LLC has reduced its stake in Merck & Co., Inc. by 5.6%, now holding 247,959 shares worth approximately $22.26 million.
• Multiple institutional investors increased their holdings in Merck recently, with Charles Schwab Investment Management growing its stake by 144.6% to over $49 million shares.
• Merck & Co., Inc. declared a quarterly dividend of $0.81 per share, giving it an annualized yield of 3.9%, with a payout ratio of 49.92%.

Azimuth Capital Investment Management LLC cut its holdings in Merck & Co., Inc. (NYSE:MRK - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 247,959 shares of the company's stock after selling 14,652 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Merck & Co., Inc. were worth $22,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Merck & Co., Inc. by 144.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 49,229,283 shares of the company's stock worth $4,418,820,000 after acquiring an additional 29,104,112 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Merck & Co., Inc. during the first quarter worth about $991,553,000. Pacer Advisors Inc. grew its stake in shares of Merck & Co., Inc. by 2,240.9% during the first quarter. Pacer Advisors Inc. now owns 5,286,801 shares of the company's stock worth $474,543,000 after acquiring an additional 5,060,959 shares during the last quarter. Northern Trust Corp grew its stake in shares of Merck & Co., Inc. by 16.8% during the fourth quarter. Northern Trust Corp now owns 31,377,107 shares of the company's stock worth $3,121,395,000 after acquiring an additional 4,511,742 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Merck & Co., Inc. by 63.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,577,535 shares of the company's stock worth $1,151,642,000 after purchasing an additional 4,480,007 shares during the period. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $82.77 on Friday. Merck & Co., Inc. has a fifty-two week low of $73.31 and a fifty-two week high of $120.30. The stock has a market cap of $206.75 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.87 and a beta of 0.38. The business has a fifty day moving average of $81.07 and a 200-day moving average of $83.61. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.69.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.10. The business had revenue of $15.81 billion during the quarter, compared to the consensus estimate of $15.92 billion. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%. As a group, analysts predict that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s payout ratio is 49.92%.

Analyst Ratings Changes

MRK has been the subject of a number of research reports. Morgan Stanley decreased their target price on Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Guggenheim reaffirmed a "buy" rating and set a $115.00 target price on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Wall Street Zen downgraded Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. Cantor Fitzgerald downgraded Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. Finally, Citigroup reissued a "neutral" rating and issued a $84.00 price target (down from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Merck & Co., Inc. currently has an average rating of "Hold" and an average target price of $107.44.

About Merck & Co., Inc.

Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.