Penobscot Investment Management Company Inc. cut its holdings in Merck & Co., Inc. (NYSE:MRK) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,354 shares of the company’s stock after selling 410 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Merck & Co., Inc. were worth $2,629,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MRK. Stillwater Investment Management LLC boosted its position in Merck & Co., Inc. by 2.6% in the 2nd quarter. Stillwater Investment Management LLC now owns 4,796 shares of the company’s stock valued at $402,000 after buying an additional 120 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Merck & Co., Inc. by 0.3% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 43,677 shares of the company’s stock worth $3,671,000 after purchasing an additional 126 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of Merck & Co., Inc. by 0.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 40,683 shares of the company’s stock worth $3,411,000 after purchasing an additional 128 shares during the period. Hyman Charles D lifted its position in shares of Merck & Co., Inc. by 0.4% in the 2nd quarter. Hyman Charles D now owns 31,274 shares of the company’s stock worth $2,622,000 after purchasing an additional 128 shares during the period. Finally, Kidder Stephen W lifted its position in shares of Merck & Co., Inc. by 1.9% in the 2nd quarter. Kidder Stephen W now owns 7,065 shares of the company’s stock worth $592,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 75.34% of the company’s stock.

NYSE:MRK traded up $1.60 during midday trading on Friday, reaching $85.06. 8,550,000 shares of the stock traded hands, compared to its average volume of 9,547,986. Merck & Co., Inc. has a 12-month low of $66.10 and a 12-month high of $87.07. The business has a 50-day moving average of $83.38 and a two-hundred day moving average of $80.94. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.92 and a current ratio of 1.21. The stock has a market capitalization of $213.54 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56.

Merck & Co., Inc. (NYSE:MRK) last posted its earnings results on Tuesday, July 30th. The company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.14. Merck & Co., Inc. had a net margin of 21.10% and a return on equity of 43.34%. The company had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. Merck & Co., Inc.’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts anticipate that Merck & Co., Inc. will post 4.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.59%. Merck & Co., Inc.’s payout ratio is 50.69%.

In other Merck & Co., Inc. news, CFO Robert M. Davis sold 216,718 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $85.43, for a total transaction of $18,514,218.74. Following the transaction, the chief financial officer now owns 354,378 shares in the company, valued at approximately $30,274,512.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard R. Deluca sold 6,427 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $85.09, for a total transaction of $546,873.43. Following the transaction, the executive vice president now owns 103,223 shares in the company, valued at approximately $8,783,245.07. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

MRK has been the subject of several research reports. Svb Leerink initiated coverage on shares of Merck & Co., Inc. in a research report on Friday. They issued an “outperform” rating and a $103.00 price target for the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of Merck & Co., Inc. in a research report on Wednesday, August 7th. BMO Capital Markets upped their price target on shares of Merck & Co., Inc. from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Citigroup upped their price target on shares of Merck & Co., Inc. from $84.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their price target on shares of Merck & Co., Inc. from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $92.56.

About Merck & Co., Inc.

Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.

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

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