Tower Wealth Partners Inc. Sells 383 Shares of Merck & Co., Inc. (NYSE:MRK)

Tower Wealth Partners Inc. cut its stake in Merck & Co., Inc. (NYSE:MRKFree Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,204 shares of the company’s stock after selling 383 shares during the period. Merck & Co., Inc. accounts for about 0.5% of Tower Wealth Partners Inc.’s investment portfolio, making the stock its 24th biggest position. Tower Wealth Partners Inc.’s holdings in Merck & Co., Inc. were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Saxon Interests Inc. raised its stake in shares of Merck & Co., Inc. by 13.8% in the first quarter. Saxon Interests Inc. now owns 15,121 shares of the company’s stock worth $1,995,000 after acquiring an additional 1,832 shares during the last quarter. Naviter Wealth LLC raised its stake in shares of Merck & Co., Inc. by 17.8% during the first quarter. Naviter Wealth LLC now owns 20,195 shares of the company’s stock worth $2,680,000 after buying an additional 3,045 shares during the last quarter. CAP Partners LLC raised its stake in shares of Merck & Co., Inc. by 4.8% during the first quarter. CAP Partners LLC now owns 2,292 shares of the company’s stock worth $302,000 after buying an additional 106 shares during the last quarter. Verum Partners LLC raised its stake in shares of Merck & Co., Inc. by 13.6% during the first quarter. Verum Partners LLC now owns 3,464 shares of the company’s stock worth $457,000 after buying an additional 416 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Merck & Co., Inc. during the first quarter worth approximately $53,000. 76.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Berenberg Bank boosted their price target on shares of Merck & Co., Inc. from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Societe Generale downgraded shares of Merck & Co., Inc. from a “hold” rating to a “sell” rating and set a $104.00 price target for the company. in a research note on Monday, March 11th. Argus upgraded shares of Merck & Co., Inc. to a “strong-buy” rating in a report on Wednesday, June 5th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price objective on shares of Merck & Co., Inc. in a report on Tuesday, June 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Merck & Co., Inc. from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.00.

Get Our Latest Report on MRK

Merck & Co., Inc. Stock Down 1.5 %

Merck & Co., Inc. stock opened at $125.85 on Thursday. The stock has a market capitalization of $318.75 billion, a PE ratio of 139.83, a price-to-earnings-growth ratio of 2.47 and a beta of 0.38. Merck & Co., Inc. has a twelve month low of $99.14 and a twelve month high of $134.63. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $129.36 and a 200-day moving average of $124.70.

Merck & Co., Inc. (NYSE:MRKGet Free Report) last announced its earnings results on Thursday, April 25th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.94 by $0.13. Merck & Co., Inc. had a net margin of 3.76% and a return on equity of 14.05%. The business had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.21 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Merck & Co., Inc. will post 8.62 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 17th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, June 17th. Merck & Co., Inc.’s payout ratio is 342.22%.

Merck & Co., Inc. Profile

(Free Report)

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.

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

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