Bank of New York Mellon Corp Reduces Position in Merck & Co., Inc. (NYSE:MRK)

Bank of New York Mellon Corp lessened its position in shares of Merck & Co., Inc. (NYSE:MRK) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,620,305 shares of the company’s stock after selling 950,223 shares during the quarter. Bank of New York Mellon Corp owned 1.17% of Merck & Co., Inc. worth $2,303,572,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MRK. Geode Capital Management LLC boosted its position in shares of Merck & Co., Inc. by 1.6% during the first quarter. Geode Capital Management LLC now owns 42,774,518 shares of the company’s stock worth $3,289,283,000 after acquiring an additional 671,918 shares during the last quarter. Franklin Resources Inc. increased its stake in Merck & Co., Inc. by 20.6% in the first quarter. Franklin Resources Inc. now owns 35,455,780 shares of the company’s stock worth $2,733,289,000 after purchasing an additional 6,063,098 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Merck & Co., Inc. by 9.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 24,733,151 shares of the company’s stock valued at $1,906,680,000 after buying an additional 2,063,255 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Merck & Co., Inc. by 2.0% in the second quarter. Deutsche Bank AG now owns 21,656,867 shares of the company’s stock valued at $1,684,253,000 after purchasing an additional 430,292 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Merck & Co., Inc. by 47.8% in the 2nd quarter. LSV Asset Management now owns 14,306,091 shares of the company’s stock worth $1,112,584,000 after buying an additional 4,628,832 shares during the period. 71.83% of the stock is currently owned by hedge funds and other institutional investors.

MRK has been the topic of several analyst reports. Zacks Investment Research upgraded Merck & Co., Inc. from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a research note on Tuesday, August 24th. SVB Leerink raised their price objective on Merck & Co., Inc. from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Morgan Stanley lowered Merck & Co., Inc. from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $90.00 to $85.00 in a research report on Tuesday, September 7th. Truist Securities assumed coverage on Merck & Co., Inc. in a report on Tuesday, July 27th. They issued a “buy” rating and a $76.79 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Merck & Co., Inc. from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $91.09.

Shares of Merck & Co., Inc. stock traded up $0.05 during trading hours on Tuesday, reaching $71.98. 224,933 shares of the company were exchanged, compared to its average volume of 11,461,917. The firm has a market cap of $182.21 billion, a PE ratio of 32.84, a PEG ratio of 2.16 and a beta of 0.41. The stock’s fifty day moving average is $76.21 and its 200 day moving average is $76.57. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.31. Merck & Co., Inc. has a 1 year low of $70.89 and a 1 year high of $85.60.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Wednesday, July 28th. The company reported $1.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.31. Merck & Co., Inc. had a net margin of 11.48% and a return on equity of 50.93%. The company had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.21 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Research analysts expect that Merck & Co., Inc. will post 5.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 7th. Stockholders of record on Wednesday, September 15th will be given a $0.65 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.61%. Merck & Co., Inc.’s dividend payout ratio is currently 43.77%.

About Merck & Co., Inc.

Merck & Co, Inc engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.

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

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