Econ Financial Services Corp Takes $2.04 Million Position in Merck & Co., Inc. $MRK

Econ Financial Services Corp purchased a new position in Merck & Co., Inc. (NYSE:MRK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,242 shares of the company’s stock, valued at approximately $2,035,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRK. Chemung Canal Trust Co. grew its position in shares of Merck & Co., Inc. by 21.1% during the 3rd quarter. Chemung Canal Trust Co. now owns 76,338 shares of the company’s stock worth $6,407,000 after buying an additional 13,285 shares in the last quarter. Little House Capital LLC raised its holdings in shares of Merck & Co., Inc. by 1.2% in the second quarter. Little House Capital LLC now owns 25,236 shares of the company’s stock valued at $1,998,000 after acquiring an additional 308 shares in the last quarter. Diversified Trust Co lifted its stake in Merck & Co., Inc. by 9.6% in the third quarter. Diversified Trust Co now owns 207,838 shares of the company’s stock worth $17,444,000 after acquiring an additional 18,187 shares during the period. Caxton Associates LLP grew its holdings in Merck & Co., Inc. by 23.3% during the 2nd quarter. Caxton Associates LLP now owns 39,421 shares of the company’s stock worth $3,121,000 after acquiring an additional 7,458 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Merck & Co., Inc. by 9.8% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 888,415 shares of the company’s stock valued at $70,327,000 after purchasing an additional 79,529 shares during the period. 76.07% of the stock is owned by institutional investors.

Insider Activity 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 value of $720,044.26. Following the completion of the sale, the executive vice president directly owned 24,578 shares in the company, valued at $2,054,475.02. This trade represents a 25.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

Merck & Co., Inc. Stock Performance

Shares of MRK stock opened at $105.20 on Friday. Merck & Co., Inc. has a 12-month low of $73.31 and a 12-month high of $107.59. The business’s fifty day simple moving average is $96.98 and its 200-day simple moving average is $87.76. 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 company has a market cap of $261.11 billion, a PE ratio of 13.90, a PEG ratio of 1.00 and a beta of 0.29.

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

Merck & Co., Inc. Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MRK shares. Wells Fargo & Company raised shares of Merck & Co., Inc. from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $125.00 in a research report on Monday, November 24th. BMO Capital Markets raised shares of Merck & Co., Inc. from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $82.00 to $130.00 in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Merck & Co., Inc. in a report on Monday. Citigroup initiated coverage on Merck & Co., Inc. in a report on Monday, October 13th. They issued a “neutral” rating and a $95.00 price target on the stock. Finally, Wall Street Zen upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $110.13.

Merck & Co., Inc. 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.