Synovus Financial Corp Sells 4,784 Shares of Merck & Co., Inc. $MRK

Key Points

• Synovus Financial Corp reduced its stake in Merck & Co., Inc. by 1.8%, owning 259,200 shares valued at approximately $23.27 million after selling off 4,784 shares.
• Merck recently announced a quarterly dividend of $0.81 per share, resulting in an annualized yield of 3.7%, with a dividend payout ratio of 49.92%.
• The company reported $2.13 earnings per share for its latest quarter, exceeding estimates by $0.10, and had a net margin of 25.79%.

Synovus Financial Corp lessened its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 259,200 shares of the company's stock after selling 4,784 shares during the quarter. Synovus Financial Corp's holdings in Merck & Co., Inc. were worth $23,266,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MRK. Brighton Jones LLC grew its holdings in shares of Merck & Co., Inc. by 29.5% during the fourth quarter. Brighton Jones LLC now owns 38,278 shares of the company's stock worth $3,808,000 after buying an additional 8,710 shares in the last quarter. American Assets Inc. acquired a new stake in Merck & Co., Inc. in the 4th quarter valued at approximately $398,000. Topsail Wealth Management LLC acquired a new stake in Merck & Co., Inc. in the 4th quarter valued at approximately $213,000. Lord Abbett & CO. LLC raised its position in Merck & Co., Inc. by 13.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 442,414 shares of the company's stock valued at $44,011,000 after buying an additional 52,061 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Merck & Co., Inc. by 8.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 111,005 shares of the company's stock valued at $11,043,000 after buying an additional 8,606 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company's stock.

Merck & Co., Inc. Stock Performance

Merck & Co., Inc. stock traded down $0.83 during midday trading on Wednesday, reaching $84.16. 10,585,072 shares of the company's stock were exchanged, compared to its average volume of 11,375,943. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $120.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.17 and a current ratio of 1.42. The firm has a market cap of $210.21 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.90 and a beta of 0.38. The stock's 50-day simple moving average is $81.86 and its 200 day simple moving average is $83.03.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $15.81 billion during the quarter, compared to analysts' expectations of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. On average, analysts expect that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors 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 3.8%. The ex-dividend date is Monday, September 15th. Merck & Co., Inc.'s payout ratio is 49.92%.

Wall Street Analyst Weigh In

MRK has been the topic of a number of recent research reports. Cantor Fitzgerald lowered Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. Morgan Stanley dropped their target price on Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Citigroup restated 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, Wells Fargo & Company decreased their price objective on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $107.44.

Merck & Co., Inc. 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.