Texas Permanent School Fund Acquires 614 Shares of Organon & Co. (NYSE:OGN)

Texas Permanent School Fund grew its holdings in shares of Organon & Co. (NYSE:OGNGet Rating) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,502 shares of the company’s stock after buying an additional 614 shares during the quarter. Texas Permanent School Fund’s holdings in Organon & Co. were worth $1,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Trustcore Financial Services LLC grew its stake in Organon & Co. by 14.7% in the first quarter. Trustcore Financial Services LLC now owns 2,361 shares of the company’s stock worth $82,000 after purchasing an additional 303 shares in the last quarter. FourThought Financial LLC grew its stake in Organon & Co. by 31.7% in the first quarter. FourThought Financial LLC now owns 1,442 shares of the company’s stock worth $50,000 after purchasing an additional 347 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Organon & Co. by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 33,808 shares of the company’s stock worth $1,181,000 after purchasing an additional 361 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Organon & Co. by 4.3% in the first quarter. Mercer Global Advisors Inc. ADV now owns 8,999 shares of the company’s stock worth $314,000 after purchasing an additional 372 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Organon & Co. by 6.4% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,340 shares of the company’s stock worth $214,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.

Organon & Co. Stock Up 2.0 %

Organon & Co. stock opened at $24.40 on Friday. The business has a fifty day moving average of $25.30 and a two-hundred day moving average of $30.51. The firm has a market cap of $6.21 billion, a P/E ratio of 6.16 and a beta of 0.87. Organon & Co. has a twelve month low of $22.88 and a twelve month high of $39.47.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, November 10th. This represents a $1.12 annualized dividend and a dividend yield of 4.59%. Organon & Co.’s dividend payout ratio is presently 28.28%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OGN shares. Bank of America cut Organon & Co. from a “neutral” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a research note on Friday, October 14th. Morgan Stanley lowered their target price on Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Finally, Piper Sandler upgraded Organon & Co. from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $37.00 to $34.00 in a report on Tuesday, September 6th.

About Organon & Co.

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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