Cornerstone Wealth Group LLC Sells 99,340 Shares of Merck & Co., Inc. (NYSE:MRK)

Cornerstone Wealth Group LLC lessened its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 82.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,149 shares of the company's stock after selling 99,340 shares during the period. Cornerstone Wealth Group LLC's holdings in Merck & Co., Inc. were worth $1,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRK. Brighton Jones LLC raised its holdings in Merck & Co., Inc. by 29.5% in the 4th quarter. Brighton Jones LLC now owns 38,278 shares of the company's stock worth $3,808,000 after purchasing an additional 8,710 shares in the last quarter. Howard Capital Management Inc. increased its position in shares of Merck & Co., Inc. by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 17,193 shares of the company's stock valued at $1,710,000 after buying an additional 858 shares during the period. MONECO Advisors LLC raised its stake in Merck & Co., Inc. by 25.4% in the fourth quarter. MONECO Advisors LLC now owns 13,602 shares of the company's stock worth $1,353,000 after buying an additional 2,751 shares in the last quarter. Black Diamond Financial LLC lifted its holdings in Merck & Co., Inc. by 26.8% in the fourth quarter. Black Diamond Financial LLC now owns 5,097 shares of the company's stock worth $507,000 after buying an additional 1,076 shares during the period. Finally, Partners Wealth Management LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter worth about $418,000. Institutional investors own 76.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cantor Fitzgerald downgraded Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target on shares of Merck & Co., Inc. in a research note on Thursday, April 17th. Citigroup reiterated a "neutral" rating and issued a $84.00 price objective (down previously from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Finally, Wall Street Zen cut shares of Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Merck & Co., Inc. currently has an average rating of "Hold" and a consensus price target of $109.19.

Merck & Co., Inc. Stock Up 0.1%

Shares of Merck & Co., Inc. stock opened at $78.93 on Friday. The company has a 50-day simple moving average of $79.06 and a two-hundred day simple moving average of $87.73. The stock has a market capitalization of $198.20 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.82 and a beta of 0.38. Merck & Co., Inc. has a 52-week low of $73.31 and a 52-week high of $130.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.41.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.22 EPS for the quarter, beating the consensus estimate of $2.16 by $0.06. The company had revenue of $15.53 billion for the quarter, compared to analysts' expectations of $15.59 billion. Merck & Co., Inc. had a return on equity of 43.23% and a net margin of 27.27%. Merck & Co., Inc.'s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. On average, analysts anticipate that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 16th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Monday, June 16th. Merck & Co., Inc.'s payout ratio is currently 47.16%.

Insider Activity

In other Merck & Co., Inc. news, SVP Dalton E. Smart III sold 4,262 shares of the company's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $82.76, for a total value of $352,723.12. Following the completion of the sale, the senior vice president now owns 7,778 shares in the company, valued at $643,707.28. This represents a 35.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company's stock.

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.