Merck & Co., Inc. $MRK Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. significantly reduced its holdings in Merck & Co., Inc. by 95% in the second quarter, leaving them with 7,321 shares valued at $580,000.
• Merck's latest earnings report revealed a beat in EPS at $2.13, surpassing estimates of $2.03, with revenue reported at $15.81 billion.
• The company announced a quarterly dividend of $0.81 per share, which is part of an annualized dividend totaling $3.24, reflecting a dividend yield of 4.1%.

Congress Asset Management Co. reduced its holdings in Merck & Co., Inc. (NYSE:MRK - Free Report) by 95.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,321 shares of the company's stock after selling 138,113 shares during the quarter. Congress Asset Management Co.'s holdings in Merck & Co., Inc. were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Merck & Co., Inc. during the 1st quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Merck & Co., Inc. by 141.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company's stock worth $34,000 after buying an additional 221 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Merck & Co., Inc. during the 1st quarter worth $36,000. Fiduciary Wealth Partners LLC purchased a new position in shares of Merck & Co., Inc. in the 1st quarter worth $48,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Merck & Co., Inc. in the first quarter valued at $48,000. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Performance

Shares of MRK stock opened at $78.51 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.42 and a quick ratio of 1.17. The company's fifty day moving average price is $82.53 and its two-hundred day moving average price is $81.90. The firm has a market capitalization of $196.10 billion, a P/E ratio of 12.10, a P/E/G 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.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.10. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%.The company had revenue of $15.81 billion during the quarter, compared to the consensus estimate of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. On average, research analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

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 dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio is 49.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MRK shares. Wells Fargo & Company dropped their price target 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, July 30th. Morgan Stanley dropped 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. Finally, Berenberg Bank lowered shares of Merck & Co., Inc. from a "buy" rating to a "hold" rating and cut their price target for the company from $100.00 to $90.00 in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $106.41.

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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