Chemung Canal Trust Co. Buys 13,285 Shares of Merck & Co., Inc. $MRK

Chemung Canal Trust Co. increased its position in Merck & Co., Inc. (NYSE:MRK) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,338 shares of the company’s stock after purchasing an additional 13,285 shares during the period. Merck & Co., Inc. makes up approximately 1.3% of Chemung Canal Trust Co.’s holdings, making the stock its 25th biggest position. Chemung Canal Trust Co.’s holdings in Merck & Co., Inc. were worth $6,407,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC lifted its stake in shares of Merck & Co., Inc. by 237.4% in the third quarter. Darwin Wealth Management LLC now owns 307 shares of the company’s stock worth $26,000 after buying an additional 216 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Merck & Co., Inc. during the second quarter valued at approximately $25,000. Kilter Group LLC purchased a new position in Merck & Co., Inc. in the 2nd quarter worth approximately $27,000. Bare Financial Services Inc raised its holdings in Merck & Co., Inc. by 51.9% in the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its position in Merck & Co., Inc. by 141.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company’s stock valued at $34,000 after acquiring an additional 221 shares in the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Merck & Co., Inc. in a report on Monday, December 22nd. Wall Street Zen raised Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Scotiabank lifted their price objective on Merck & Co., Inc. from $105.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 4th. The Goldman Sachs Group boosted their target price on Merck & Co., Inc. from $92.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Finally, Wells Fargo & Company raised shares of Merck & Co., Inc. from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $90.00 to $125.00 in a report on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $110.13.

Merck & Co., Inc. Stock Performance

Shares of Merck & Co., Inc. stock opened at $106.47 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average price is $95.90 and its 200-day moving average price is $87.34. The firm has a market cap of $264.27 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.02 and a beta of 0.29. Merck & Co., Inc. has a 12 month low of $73.31 and a 12 month high of $107.59.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Friday, January 30th. The company reported $1.94 earnings per share for the quarter. Merck & Co., Inc. had a net margin of 29.63% and a return on equity of 44.54%. On average, equities research analysts expect that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.85 per share. This is a boost from Merck & Co., Inc.’s previous quarterly dividend of $0.81. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, December 15th. Merck & Co., Inc.’s payout ratio is 44.91%.

Insider Transactions at Merck & Co., Inc.

In related news, EVP David Michael Williams sold 8,614 shares of Merck & Co., Inc. stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $83.59, for a total transaction of $720,044.26. Following the transaction, the executive vice president directly owned 24,578 shares of the company’s stock, valued at $2,054,475.02. This trade represents a 25.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by insiders.

Merck & Co., Inc. Company Profile

Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.

Founded in the late 19th century as the U.S.