Parsons Capital Management Inc. RI Has $8.18 Million Stock Position in Merck & Co., Inc. $MRK

Key Points

• Parsons Capital Management Inc. reduced its stake in Merck & Co., Inc. by 39.6%, now holding 103,352 shares valued at approximately $8.18 million.
• Recent analyst reports reflect a bearish outlook as Wells Fargo and Berenberg Bank both lowered their price targets and ratings on the stock.
• Merck recently announced a quarterly dividend of $0.81 per share, yielding 3.6%, with a payout ratio of 49.92%.

Parsons Capital Management Inc. RI lowered its stake in Merck & Co., Inc. (NYSE:MRK - Free Report) by 39.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,352 shares of the company's stock after selling 67,825 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Merck & Co., Inc. were worth $8,181,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MRK. Legend Financial Advisors Inc. acquired a new position in shares of Merck & Co., Inc. in the 2nd quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Merck & Co., Inc. in the 1st quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Merck & Co., Inc. by 141.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company's stock valued at $34,000 after purchasing an additional 221 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Merck & Co., Inc. during the 1st quarter worth $36,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Merck & Co., Inc. during the 1st quarter worth $48,000. Institutional investors and hedge funds own 76.07% of the company's stock.

Wall Street Analyst Weigh In

MRK has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley dropped their price objective 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. Finally, Berenberg Bank downgraded Merck & Co., Inc. from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $100.00 to $90.00 in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $106.41.

Merck & Co., Inc. Price Performance

MRK stock opened at $90.13 on Thursday. The stock has a 50-day moving average price of $82.68 and a two-hundred day moving average price of $81.77. The stock has a market cap of $225.11 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.86 and a beta of 0.37. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69. Merck & Co., Inc. has a 1 year low of $73.31 and a 1 year high of $114.60.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. The firm had revenue of $15.81 billion during the quarter, compared to analysts' expectations of $15.92 billion. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. Equities analysts forecast 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 issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio is 49.92%.

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.

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