Franklin Resources Inc. Sells 30,769 Shares of Organon & Co. (NYSE:OGN)

Franklin Resources Inc. trimmed its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 313,369 shares of the company's stock after selling 30,769 shares during the quarter. Franklin Resources Inc. owned 0.12% of Organon & Co. worth $4,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in Organon & Co. by 8.0% during the 4th quarter. Alliancebernstein L.P. now owns 149,769 shares of the company's stock valued at $2,235,000 after buying an additional 11,075 shares in the last quarter. Wellington Management Group LLP lifted its stake in Organon & Co. by 44.2% in the 4th quarter. Wellington Management Group LLP now owns 32,966 shares of the company's stock worth $492,000 after purchasing an additional 10,108 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in Organon & Co. by 34.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 2,029,923 shares of the company's stock valued at $30,286,000 after purchasing an additional 521,847 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Organon & Co. by 24.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,283 shares of the company's stock valued at $181,000 after purchasing an additional 2,210 shares in the last quarter. Finally, Summit Securities Group LLC increased its holdings in shares of Organon & Co. by 35.1% in the fourth quarter. Summit Securities Group LLC now owns 28,100 shares of the company's stock worth $419,000 after purchasing an additional 7,300 shares during the period. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Trading Down 0.4 %

NYSE:OGN traded down $0.05 during trading hours on Wednesday, hitting $11.01. The company had a trading volume of 554,393 shares, compared to its average volume of 2,645,890. The stock has a 50-day moving average price of $14.48 and a 200 day moving average price of $15.56. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The company has a market capitalization of $2.84 billion, a PE ratio of 3.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. Organon & Co. has a 52 week low of $10.90 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. On average, equities research analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 10.18%. Organon & Co.'s dividend payout ratio (DPR) is presently 33.63%.

Analyst Ratings Changes

Several research firms recently issued reports on OGN. Morgan Stanley dropped their price objective on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Organon & Co. has an average rating of "Hold" and a consensus price target of $20.60.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women's health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.