Estabrook Capital Management Sells 2,140 Shares of Merck & Co., Inc. (NYSE:MRK)

Estabrook Capital Management reduced its position in shares of Merck & Co., Inc. (NYSE:MRK) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,724 shares of the company’s stock after selling 2,140 shares during the period. Merck & Co., Inc. makes up approximately 1.9% of Estabrook Capital Management’s investment portfolio, making the stock its 13th biggest position. Estabrook Capital Management’s holdings in Merck & Co., Inc. were worth $12,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Industrial Alliance Investment Management Inc. boosted its position in Merck & Co., Inc. by 2.6% during the first quarter. Industrial Alliance Investment Management Inc. now owns 3,193 shares of the company’s stock worth $421,000 after purchasing an additional 80 shares during the period. IRON Financial LLC lifted its stake in shares of Merck & Co., Inc. by 4.6% during the 2nd quarter. IRON Financial LLC now owns 1,811 shares of the company’s stock valued at $224,000 after buying an additional 80 shares in the last quarter. Argent Capital Management LLC boosted its holdings in Merck & Co., Inc. by 0.8% in the 2nd quarter. Argent Capital Management LLC now owns 10,521 shares of the company’s stock worth $1,302,000 after buying an additional 81 shares during the period. Forza Wealth Management LLC grew its stake in Merck & Co., Inc. by 0.8% in the 2nd quarter. Forza Wealth Management LLC now owns 10,480 shares of the company’s stock valued at $1,297,000 after buying an additional 82 shares in the last quarter. Finally, Vista Investment Partners LLC raised its holdings in Merck & Co., Inc. by 2.0% during the 2nd quarter. Vista Investment Partners LLC now owns 4,164 shares of the company’s stock valued at $516,000 after acquiring an additional 82 shares during the period. 76.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRK shares. Evercore ISI raised Merck & Co., Inc. to a “strong-buy” rating in a report on Tuesday, July 30th. Morgan Stanley raised their target price on Merck & Co., Inc. from $132.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Barclays decreased their price target on Merck & Co., Inc. from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Merck & Co., Inc. in a research report on Monday, September 16th. Finally, Wolfe Research raised shares of Merck & Co., Inc. to a “strong-buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Merck & Co., Inc. presently has a consensus rating of “Buy” and an average price target of $134.58.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $117.17 on Friday. Merck & Co., Inc. has a 52-week low of $99.14 and a 52-week high of $134.63. The company has a fifty day moving average of $117.85 and a 200-day moving average of $124.31. The company has a market capitalization of $296.77 billion, a P/E ratio of 130.19, a P/E/G ratio of 1.59 and a beta of 0.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.22 and a current ratio of 1.47.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. Merck & Co., Inc. had a return on equity of 40.69% and a net margin of 21.99%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.87 billion. During the same quarter in the previous year, the company posted ($2.06) earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Merck & Co., Inc. will post 8.01 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, September 16th. Merck & Co., Inc.’s dividend payout ratio is currently 342.22%.

About Merck & Co., Inc.

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 under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.