Modera Wealth Management LLC Sells 4,493 Shares of Merck & Co., Inc. (NYSE:MRK)

Key Points

• Modera Wealth Management LLC reduced its stake in Merck & Co., Inc. by 8.5%, now holding shares worth approximately $4.32 million after selling 4,493 shares in the first quarter.
• Institutional investors hold 76.07% of Merck & Co., Inc.'s stock, with notable increases in positions by several large funds, including Pacer Advisors Inc. and GAMMA Investing LLC, which raised their holdings significantly in recent quarters.
• Merck & Co., Inc. recently announced a quarterly dividend of $0.81 per share, reflecting an annualized payout of $3.24 and a yield of 3.96%.

Modera Wealth Management LLC lessened its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,165 shares of the company's stock after selling 4,493 shares during the quarter. Modera Wealth Management LLC's holdings in Merck & Co., Inc. were worth $4,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Merck & Co., Inc. by 29.5% during the 4th quarter. Brighton Jones LLC now owns 38,278 shares of the company's stock valued at $3,808,000 after buying an additional 8,710 shares in the last quarter. American Assets Inc. purchased a new position in Merck & Co., Inc. during the 4th quarter valued at approximately $398,000. Diametric Capital LP purchased a new position in Merck & Co., Inc. during the 4th quarter valued at approximately $372,000. RFG Bristol Wealth Advisors LLC purchased a new position in Merck & Co., Inc. during the 4th quarter valued at approximately $1,046,000. Finally, Private Portfolio Partners LLC grew its holdings in Merck & Co., Inc. by 126.6% during the 4th quarter. Private Portfolio Partners LLC now owns 10,362 shares of the company's stock valued at $1,031,000 after buying an additional 5,790 shares in the last quarter. Institutional investors own 76.07% of the company's stock.

Merck & Co., Inc. Trading Up 1.5%

MRK traded up $1.15 during trading hours on Friday, reaching $79.27. 11,898,764 shares of the company's stock traded hands, compared to its average volume of 12,513,969. The firm has a 50-day moving average price of $80.41 and a 200 day moving average price of $84.66. Merck & Co., Inc. has a 52-week low of $73.31 and a 52-week high of $120.30. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $199.05 billion, a PE ratio of 12.21, a PEG ratio of 0.79 and a beta of 0.38.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $2.13 earnings per share (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 company had revenue of $15.81 billion during the quarter, compared to analysts' expectations of $15.92 billion. As a group, sell-side analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend 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 49.92%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MRK. Guggenheim restated a "buy" rating and set a $115.00 price target on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Citigroup restated a "neutral" rating and set a $84.00 price target (down previously from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Cantor Fitzgerald cut Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. Wells Fargo & Company dropped their target price on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Wall Street Zen cut Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Merck & Co., Inc. has an average rating of "Hold" and an average price target of $107.44.

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.