Eastern Bank Sells 47,755 Shares of Merck & Co., Inc. $MRK

Eastern Bank decreased its holdings in Merck & Co., Inc. (NYSE:MRK) by 17.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 223,610 shares of the company’s stock after selling 47,755 shares during the quarter. Eastern Bank’s holdings in Merck & Co., Inc. were worth $18,768,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MRK. Legend Financial Advisors Inc. purchased a new position in shares of Merck & Co., Inc. during the second quarter valued at approximately $25,000. Darwin Wealth Management LLC grew its position in Merck & Co., Inc. by 237.4% in the 3rd quarter. Darwin Wealth Management LLC now owns 307 shares of the company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Kilter Group LLC bought a new stake in Merck & Co., Inc. in the 2nd quarter worth approximately $27,000. Bare Financial Services Inc raised its stake in Merck & Co., Inc. by 51.9% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of Merck & Co., Inc. by 302.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 354 shares of the company’s stock valued at $30,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Down 0.9%

MRK stock opened at $108.20 on Wednesday. The business’s 50-day moving average price is $100.62 and its 200-day moving average price is $89.53. The stock has a market cap of $268.56 billion, a P/E ratio of 14.29, a PEG ratio of 1.18 and a beta of 0.29. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. Merck & Co., Inc. has a twelve month low of $73.31 and a twelve month high of $112.90.

Merck & Co., Inc. (NYSE:MRK) last released its earnings results on Tuesday, February 3rd. The company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.14). Merck & Co., Inc. had a return on equity of 44.54% and a net margin of 29.63%. On average, equities research analysts forecast that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 15th were paid a dividend of $0.85 per share. This is a positive change from Merck & Co., Inc.’s previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 15th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.1%. Merck & Co., Inc.’s dividend payout ratio is presently 44.91%.

Insiders Place Their Bets

In related news, EVP David Michael Williams sold 8,614 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 24,578 shares of the company’s stock, valued at approximately $2,054,475.02. This represents a 25.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

MRK has been the topic of a number of research reports. Scotiabank raised their price target on Merck & Co., Inc. from $105.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft raised their target price on Merck & Co., Inc. from $110.00 to $111.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Berenberg Bank cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $100.00 to $90.00 in a research note on Wednesday, September 17th. Wall Street Zen raised shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, BMO Capital Markets raised shares of Merck & Co., Inc. from a “market perform” rating to an “outperform” rating and upped their target price for the company from $82.00 to $130.00 in a report on Thursday, December 18th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Merck & Co., Inc. presently has an average rating of “Hold” and an average target price of $112.87.

About Merck & Co., Inc.

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.