Oppenheimer Asset Management Inc. Acquires Shares of 294,442 Merck & Company, Inc. (NYSE:MRK)
Oppenheimer Asset Management Inc. acquired a new position in shares of Merck & Company, Inc. (NYSE:MRK) during the first quarter, Holdings Channel reports. The fund acquired 294,442 shares of the company’s stock, valued at approximately $18,708,000.
A number of other large investors have also recently made changes to their positions in the stock. Vigilant Capital Management LLC boosted its stake in shares of Merck & by 16.7% in the first quarter. Vigilant Capital Management LLC now owns 1,746 shares of the company’s stock worth $111,000 after buying an additional 250 shares during the period. Gradient Investments LLC boosted its stake in shares of Merck & by 41.3% in the first quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $147,000 after buying an additional 674 shares during the period. Pinnacle Bank purchased a new stake in shares of Merck & during the first quarter worth approximately $152,000. Tortoise Investment Management LLC boosted its stake in shares of Merck & by 50.6% in the fourth quarter. Tortoise Investment Management LLC now owns 2,678 shares of the company’s stock worth $158,000 after buying an additional 900 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Merck & during the fourth quarter worth approximately $159,000. 73.73% of the stock is owned by hedge funds and other institutional investors.
Shares of Merck & Company, Inc. (NYSE:MRK) traded up 0.925% during mid-day trading on Friday, hitting $62.755. The company’s stock had a trading volume of 2,079,367 shares. Merck & Company, Inc. has a 52-week low of $58.29 and a 52-week high of $66.80. The company has a market cap of $171.16 billion, a price-to-earnings ratio of 33.977 and a beta of 0.80. The stock’s 50 day moving average price is $63.46 and its 200 day moving average price is $63.80.
Merck & (NYSE:MRK) last released its quarterly earnings results on Friday, July 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.75 billion. Merck & had a return on equity of 26.02% and a net margin of 17.14%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. Equities analysts forecast that Merck & Company, Inc. will post $3.87 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.88 annualized dividend and a yield of 3.02%. Merck &’s dividend payout ratio (DPR) is presently 76.11%.
A number of equities research analysts have commented on MRK shares. Zacks Investment Research raised Merck & from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, May 10th. Vetr cut Merck & from a “strong-buy” rating to a “buy” rating and set a $69.99 price objective for the company. in a research note on Wednesday, May 17th. BMO Capital Markets reissued a “buy” rating and issued a $74.00 price objective on shares of Merck & in a research note on Tuesday, June 6th. Credit Suisse Group set a $72.00 target price on Merck & and gave the company a “buy” rating in a research report on Tuesday, June 6th. Finally, Piper Jaffray Companies set a $70.00 target price on Merck & and gave the company a “buy” rating in a research report on Saturday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Merck & has an average rating of “Hold” and a consensus target price of $69.80.
Merck & Company Profile
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services and Alliances. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merck & Company, Inc. (NYSE:MRK).
Receive News & Ratings for Merck & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merck & Company Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.