Canandaigua National Bank & Trust Co. Purchases 8,282 Shares of Merck & Co., Inc. $MRK

Key Points

• Canandaigua National Bank & Trust Co. has increased its ownership in Merck & Co., Inc. by 9.4%, acquiring an additional 8,282 shares, bringing its total holdings to 96,077 shares valued at approximately $7.6 million.
• Merck reported earnings per share of $2.13 for the last quarter, exceeding estimates by $0.10, but its revenue fell short of expectations at $15.81 billion.
• The company announced a quarterly dividend of $0.81 per share, resulting in an annualized dividend yield of 3.9% for shareholders of record as of September 15th.

Canandaigua National Bank & Trust Co. grew its stake in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,077 shares of the company's stock after buying an additional 8,282 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Merck & Co., Inc. were worth $7,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Merck & Co., Inc. during the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Merck & Co., Inc. by 141.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company's stock valued at $34,000 after buying an additional 221 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Merck & Co., Inc. during the first quarter valued at approximately $36,000. Spurstone Advisory Services LLC bought a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $37,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $45,000. Institutional investors own 76.07% of the company's stock.

Merck & Co., Inc. Trading Down 2.7%

Shares of MRK opened at $82.87 on Monday. The company's fifty day moving average is $82.93 and its 200 day moving average is $82.75. Merck & Co., Inc. has a fifty-two week low of $73.31 and a fifty-two week high of $119.38. The stock has a market capitalization of $206.99 billion, a PE ratio of 12.77, a P/E/G ratio of 0.85 and a beta of 0.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.17 and a current ratio of 1.42.

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 for the quarter, topping the consensus estimate of $2.03 by $0.10. Merck & Co., Inc. had a net margin of 25.79% and a return on equity of 41.05%. The company had revenue of $15.81 billion for the quarter, compared to analysts' expectations of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. Sell-side analysts expect that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.81 per share. 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 payout ratio is presently 49.92%.

Analyst Ratings Changes

MRK has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company reduced their price objective on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald cut shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company 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.

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