Merck & Co., Inc. (NYSE:MRK) Shares Sold by Eastern Bank

Key Points

• Eastern Bank reduced its holdings in Merck & Co. by 37.4%, selling 169,159 shares to own 283,525 shares valued at $25.4 million.
• Several hedge funds increased their positions in Merck, with Pacer Advisors increasing holdings by an astounding 2,240.9%, now owning over 5.2 million shares valued at $474.5 million.
• Merck recently declared a quarterly dividend of $0.81 per share, showcasing a dividend yield of 3.91% with a payout ratio of 47.16%.

Eastern Bank decreased its position in Merck & Co., Inc. (NYSE:MRK - Free Report) by 37.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 283,525 shares of the company's stock after selling 169,159 shares during the period. Eastern Bank's holdings in Merck & Co., Inc. were worth $25,449,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Merck & Co., Inc. by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 61,181,863 shares of the company's stock worth $6,072,582,000 after buying an additional 2,026,859 shares during the last quarter. Northern Trust Corp boosted its stake in Merck & Co., Inc. by 16.8% in the 4th quarter. Northern Trust Corp now owns 31,377,107 shares of the company's stock worth $3,121,395,000 after buying an additional 4,511,742 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Merck & Co., Inc. by 21.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,547,758 shares of the company's stock worth $2,143,571,000 after buying an additional 3,791,737 shares during the last quarter. Royal Bank of Canada boosted its stake in Merck & Co., Inc. by 10.5% in the 4th quarter. Royal Bank of Canada now owns 18,375,974 shares of the company's stock worth $1,828,040,000 after buying an additional 1,742,313 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Merck & Co., Inc. by 22.6% in the 4th quarter. Invesco Ltd. now owns 15,452,240 shares of the company's stock worth $1,537,189,000 after buying an additional 2,847,934 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Guggenheim reissued 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 restated 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 downgraded Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. Morgan Stanley cut 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. Finally, Wall Street Zen downgraded Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $107.44.

Merck & Co., Inc. Stock Performance

Shares of MRK traded up $0.41 during mid-day trading on Friday, hitting $78.53. The stock had a trading volume of 2,170,250 shares, compared to its average volume of 15,814,231. The company has a market cap of $197.19 billion, a PE ratio of 12.09, a PEG ratio of 0.83 and a beta of 0.39. The company's fifty day simple moving average is $80.37 and its two-hundred day simple moving average is $84.80. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. Merck & Co., Inc. has a fifty-two week low of $73.31 and a fifty-two week high of $120.30.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.03 by $0.10. Merck & Co., Inc. had a return on equity of 41.63% and a net margin of 25.79%. The company had revenue of $15.81 billion during the quarter, compared to analyst estimates of $15.92 billion. On average, equities analysts expect that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be given a dividend of $0.81 per share. The ex-dividend date is Monday, September 15th. This represents a $3.24 dividend on an annualized basis and a yield of 4.1%. Merck & Co., Inc.'s payout ratio is currently 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.