Cardinal Capital Management Inc. Sells 1,378 Shares of Merck & Co., Inc. (NYSE:MRK)

Cardinal Capital Management Inc. cut its stake in shares of Merck & Co., Inc. (NYSE:MRKGet Rating) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,766 shares of the company’s stock after selling 1,378 shares during the period. Merck & Co., Inc. accounts for approximately 1.9% of Cardinal Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Cardinal Capital Management Inc.’s holdings in Merck & Co., Inc. were worth $34,988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Merck & Co., Inc. by 2.3% during the first quarter. Vanguard Group Inc. now owns 216,096,057 shares of the company’s stock valued at $17,730,682,000 after buying an additional 4,893,526 shares during the period. BlackRock Inc. increased its position in shares of Merck & Co., Inc. by 3.0% during the first quarter. BlackRock Inc. now owns 204,122,526 shares of the company’s stock valued at $16,748,252,000 after buying an additional 5,898,263 shares during the period. State Street Corp increased its position in shares of Merck & Co., Inc. by 2.7% during the fourth quarter. State Street Corp now owns 118,668,673 shares of the company’s stock valued at $9,174,491,000 after buying an additional 3,132,078 shares during the period. Bank of New York Mellon Corp increased its position in shares of Merck & Co., Inc. by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 32,792,528 shares of the company’s stock worth $2,690,627,000 after purchasing an additional 1,822,084 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Merck & Co., Inc. by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 30,079,662 shares of the company’s stock worth $2,468,037,000 after purchasing an additional 1,077,042 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. SVB Leerink upped their price objective on shares of Merck & Co., Inc. from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, September 12th. Morgan Stanley upped their price objective on shares of Merck & Co., Inc. from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. Erste Group Bank upgraded shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating in a research report on Thursday, August 25th. Cowen upped their price objective on shares of Merck & Co., Inc. from $95.00 to $102.00 and gave the stock a “market perform” rating in a research report on Monday, June 27th. Finally, Daiwa Capital Markets upgraded shares of Merck & Co., Inc. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $102.00 in a research report on Wednesday, July 6th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.28.

Merck & Co., Inc. Stock Performance

NYSE:MRK opened at $87.51 on Friday. The firm has a market cap of $221.69 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.14 and a beta of 0.33. Merck & Co., Inc. has a fifty-two week low of $71.50 and a fifty-two week high of $95.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.15 and a current ratio of 1.39. The business has a 50 day moving average price of $88.83 and a 200-day moving average price of $87.81.

Merck & Co., Inc. (NYSE:MRKGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.20. Merck & Co., Inc. had a return on equity of 48.45% and a net margin of 29.00%. The firm had revenue of $14.59 billion during the quarter, compared to analyst estimates of $13.85 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. Equities research analysts predict that Merck & Co., Inc. will post 7.33 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 15th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, September 14th. Merck & Co., Inc.’s payout ratio is 42.27%.

Merck & Co., Inc. Profile

(Get Rating)

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.

Further Reading

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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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