Federated Hermes Inc. Sells 368,759 Shares of Merck & Co., Inc. (NYSE:MRK)

Key Points

• Federated Hermes Inc. reduced its stake in Merck & Co., Inc. by 55.9%, selling 368,759 shares and now holding 291,492 shares worth $26.16 million.
• Merck's stock is down 4.4%, with shares trading at $78.17 and a market capitalization of $196.29 billion.
• The company has announced a quarterly dividend of $0.81, reflecting a dividend yield of 4.1% and a payout ratio of 49.92%.

Federated Hermes Inc. trimmed its holdings in Merck & Co., Inc. (NYSE:MRK - Free Report) by 55.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 291,492 shares of the company's stock after selling 368,759 shares during the quarter. Federated Hermes Inc.'s holdings in Merck & Co., Inc. were worth $26,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MRK. Barnes Dennig Private Wealth Management LLC bought a new stake in Merck & Co., Inc. in the 1st quarter valued at $27,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Merck & Co., Inc. during the 1st quarter valued at about $36,000. Spurstone Advisory Services LLC bought a new stake in Merck & Co., Inc. in the fourth quarter valued at about $37,000. Hurley Capital LLC acquired a new position in Merck & Co., Inc. in the fourth quarter worth about $40,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Merck & Co., Inc. in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 76.07% of the company's stock.

Merck & Co., Inc. Stock Down 4.4%

Shares of MRK opened at $78.17 on Friday. The firm has a market capitalization of $196.29 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.83 and a beta of 0.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.41. The business's fifty day moving average price is $80.37 and its two-hundred day moving average price is $84.80. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $120.30.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.10. The business had revenue of $15.81 billion for the quarter, compared to analyst estimates of $15.92 billion. Merck & Co., Inc. had a return on equity of 41.63% and a net margin of 25.79%. On average, analysts predict 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. Stockholders of record on Monday, September 15th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio (DPR) is 49.92%.

Analyst Upgrades and Downgrades

A number of equities 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. Morgan Stanley decreased their price target on Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Wall Street Zen cut Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 25th. Wells Fargo & Company dropped their price objective on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Guggenheim restated a "buy" rating and issued a $115.00 target price on shares of Merck & Co., Inc. in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $107.44.

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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