Cadence Bank Reduces Stock Position in Merck & Co., Inc. $MRK

Key Points

• Cadence Bank reduced its stake in Merck & Co. by 22.5%, holding 39,055 shares valued at approximately $3.51 million at the end of the last reporting period.
• Merck reported earnings of $2.13 per share for the most recent quarter, exceeding analyst estimates of $2.03, although revenue of $15.81 billion fell short of expectations.
• The company declared a quarterly dividend of $0.81 per share with an annualized yield of 3.7%, which will be paid on October 7th to investors of record on September 15th.

Cadence Bank reduced its stake in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,055 shares of the company's stock after selling 11,345 shares during the period. Cadence Bank's holdings in Merck & Co., Inc. were worth $3,506,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in Merck & Co., Inc. in the first quarter valued at approximately $27,000. Spurstone Advisory Services LLC acquired a new position in Merck & Co., Inc. in the fourth quarter valued at approximately $37,000. MorganRosel Wealth Management LLC acquired a new position in Merck & Co., Inc. in the first quarter valued at approximately $36,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Merck & Co., Inc. in the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Merck & Co., Inc. in the fourth quarter valued at approximately $45,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley decreased their price objective on Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Citigroup reiterated a "neutral" rating and issued a $84.00 price objective (down from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Cantor Fitzgerald cut Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their price target on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Merck & Co., Inc. presently has an average rating of "Hold" and a consensus target price of $107.44.

Merck & Co., Inc. Stock Down 1.3%

Shares of Merck & Co., Inc. stock traded down $1.08 during trading hours on Thursday, reaching $82.99. 4,941,114 shares of the company were exchanged, compared to its average volume of 15,253,148. Merck & Co., Inc. has a 1 year low of $73.31 and a 1 year high of $120.30. The stock's fifty day moving average is $81.96 and its 200 day moving average is $83.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.17 and a current ratio of 1.42. The firm has a market cap of $207.30 billion, a PE ratio of 12.79, a PEG ratio of 0.90 and a beta of 0.38.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%.The business had revenue of $15.81 billion for the quarter, compared to analyst estimates of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. As a group, equities research analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio is 49.92%.

Merck & Co., Inc. Company Profile

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.