Columbia Asset Management Trims Stake in Merck & Co., Inc. $MRK

Key Points

• Columbia Asset Management has reduced its stake in Merck & Co., Inc. by 5.8%, now holding 115,552 shares valued at approximately $9.15 million, which constitutes around 1.8% of its total holdings.
• Several analysts have adjusted their price targets for Merck, with Wells Fargo lowering it from $97 to $90, and Berenberg Bank cutting theirs from $100 to $90.
• Merck is set to pay a quarterly dividend of $0.81 on October 7th, 2023, with an annualized dividend yield of 3.9%.

Columbia Asset Management reduced its position in Merck & Co., Inc. (NYSE:MRK - Free Report) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,552 shares of the company's stock after selling 7,096 shares during the quarter. Merck & Co., Inc. accounts for approximately 1.8% of Columbia Asset Management's holdings, making the stock its 11th biggest holding. Columbia Asset Management's holdings in Merck & Co., Inc. were worth $9,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRK. Legend Financial Advisors Inc. bought a new position in Merck & Co., Inc. in the 2nd quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Merck & Co., Inc. in the 1st quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Merck & Co., Inc. by 141.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company's stock worth $34,000 after purchasing an additional 221 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of Merck & Co., Inc. in the 1st quarter worth approximately $36,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Merck & Co., Inc. in the 1st quarter worth approximately $48,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MRK shares. Wells Fargo & Company lowered their price target on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 30th. Berenberg Bank cut shares of Merck & Co., Inc. from a "buy" rating to a "hold" rating and decreased their target price for the company from $100.00 to $90.00 in a research report on Wednesday, September 17th. Finally, Morgan Stanley decreased 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 report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Merck & Co., Inc. has a consensus rating of "Hold" and an average target price of $106.41.

Merck & Co., Inc. Trading Up 6.8%

Shares of Merck & Co., Inc. stock opened at $83.96 on Wednesday. The firm has a market capitalization of $209.71 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.81 and a beta of 0.37. Merck & Co., Inc. has a 12-month low of $73.31 and a 12-month high of $114.79. The firm's 50 day simple moving average is $82.55 and its two-hundred day simple moving average is $81.71. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last released 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. The firm 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%. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. Analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. Announces Dividend

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

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