Merck & Co., Inc. (NYSE:MRK) Shares Sold by Mengis Capital Management Inc.

Key Points

• Mengis Capital Management Inc. reduced its holdings in Merck & Co., Inc. by 36.7% during the first quarter, selling 39,320 shares, bringing their total to 67,869 shares, which accounts for around 1.3% of their investment portfolio.
• Merck recently posted $2.13 EPS for the quarter, surpassing analysts' estimates of $2.03, with revenue of $15.81 billion, slightly below the expected $15.92 billion.
• The company announced a quarterly dividend of $0.81, set to be paid on October 7th, with a yield of 4.1% based on a payout ratio of 49.92%.

Mengis Capital Management Inc. lowered its position in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 36.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,869 shares of the company's stock after selling 39,320 shares during the quarter. Merck & Co., Inc. accounts for approximately 1.3% of Mengis Capital Management Inc.'s investment portfolio, making the stock its 18th largest position. Mengis Capital Management Inc.'s holdings in Merck & Co., Inc. were worth $6,092,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MRK. Morgan Stanley lowered their target price 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. Wall Street Zen cut Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. Cantor Fitzgerald lowered shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. Guggenheim restated a "buy" rating and set a $115.00 target price on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price target on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday. One 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $107.44.

Merck & Co., Inc. Stock Performance

NYSE:MRK opened at $78.17 on Friday. The stock has a 50-day moving average price of $80.37 and a 200 day moving average price of $84.80. The stock has a market capitalization of $196.29 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.83 and a beta of 0.39. Merck & Co., Inc. has a 12-month low of $73.31 and a 12-month high of $120.30. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 0.69.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $15.81 billion during the quarter, compared to the consensus estimate of $15.92 billion. Equities research analysts forecast that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s payout ratio is 49.92%.

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.

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