Bristlecone Advisors LLC Has $2.97 Million Stock Holdings in Merck & Co., Inc. (NYSE:MRK)

Key Points

• Bristlecone Advisors LLC increased its stake in Merck & Co., Inc. by 33.1% during the first quarter, bringing its total holdings to $2.97 million.
• Merck recently reported quarterly earnings of $2.13 per share, surpassing estimates, with revenues reaching $15.81 billion.
• The company declared a quarterly dividend of $0.81 per share, representing an annual yield of 4.0%, to be paid on October 7th.

Bristlecone Advisors LLC grew its position in Merck & Co., Inc. (NYSE:MRK - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,046 shares of the company's stock after purchasing an additional 8,217 shares during the period. Bristlecone Advisors LLC's holdings in Merck & Co., Inc. were worth $2,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRK. Barnes Dennig Private Wealth Management LLC bought a new position in Merck & Co., Inc. in the first quarter valued at $27,000. MorganRosel Wealth Management LLC bought a new position in Merck & Co., Inc. in the first quarter valued at $36,000. Spurstone Advisory Services LLC bought a new position in Merck & Co., Inc. in the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Merck & Co., Inc. in the 4th quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Merck & Co., Inc. in the 4th quarter valued at about $45,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Merck & Co., Inc. Trading Up 1.1%

Shares of Merck & Co., Inc. stock opened at $80.29 on Friday. The firm has a market capitalization of $200.54 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.84 and a beta of 0.38. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.69. The firm's 50 day moving average is $80.66 and its 200 day moving average is $84.13. Merck & Co., Inc. has a 1 year low of $73.31 and a 1 year high of $120.30.

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

Merck & Co., Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s payout ratio is presently 49.92%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MRK shares. Guggenheim reissued a "buy" rating and issued a $115.00 price objective on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. Morgan Stanley cut their target price on shares of Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Citigroup restated a "neutral" rating and set a $84.00 target price (down previously from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday, May 14th. Cantor Fitzgerald cut shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company cut their target price on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.

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