Schmidt P J Investment Management Inc. Sells 1,305 Shares of Merck & Co., Inc. (NYSE:MRK)

Schmidt P J Investment Management Inc. lowered its holdings in shares of Merck & Co., Inc. (NYSE:MRK) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,542 shares of the company’s stock after selling 1,305 shares during the quarter. Merck & Co., Inc. accounts for about 1.4% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 26th largest position. Schmidt P J Investment Management Inc.’s holdings in Merck & Co., Inc. were worth $4,844,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Asset Advisors Investment Management LLC raised its stake in shares of Merck & Co., Inc. by 0.8% in the third quarter. Asset Advisors Investment Management LLC now owns 87,890 shares of the company’s stock valued at $7,399,000 after acquiring an additional 656 shares during the period. Perkins Capital Management Inc. raised its stake in shares of Merck & Co., Inc. by 27.1% in the third quarter. Perkins Capital Management Inc. now owns 11,740 shares of the company’s stock valued at $988,000 after acquiring an additional 2,500 shares during the period. Alberta Investment Management Corp raised its stake in shares of Merck & Co., Inc. by 460.7% in the third quarter. Alberta Investment Management Corp now owns 217,000 shares of the company’s stock valued at $18,267,000 after acquiring an additional 178,300 shares during the period. West Branch Capital LLC purchased a new stake in shares of Merck & Co., Inc. in the third quarter valued at $979,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Merck & Co., Inc. by 9.2% in the third quarter. Golden State Wealth Management LLC now owns 6,679 shares of the company’s stock valued at $562,000 after acquiring an additional 563 shares during the period. Institutional investors and hedge funds own 75.02% of the company’s stock.

MRK stock traded down $0.45 during trading on Thursday, hitting $82.43. The company had a trading volume of 2,797,462 shares, compared to its average volume of 7,189,382. The firm has a market capitalization of $208.16 billion, a P/E ratio of 18.99, a PEG ratio of 1.90 and a beta of 0.53. Merck & Co., Inc. has a 52-week low of $66.10 and a 52-week high of $87.35. The company has a 50 day simple moving average of $84.08 and a 200-day simple moving average of $82.32. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.82.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.14. The company had revenue of $11.76 billion for the quarter, compared to the consensus estimate of $10.94 billion. Merck & Co., Inc. had a net margin of 21.10% and a return on equity of 43.34%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 EPS. Sell-side analysts forecast that Merck & Co., Inc. will post 4.91 earnings per share for the current year.

MRK has been the topic of several recent analyst reports. Mizuho reissued a “buy” rating and issued a $97.00 target price on shares of Merck & Co., Inc. in a research note on Friday, October 18th. Credit Suisse Group reissued a “buy” rating and issued a $95.00 target price on shares of Merck & Co., Inc. in a research note on Wednesday, August 7th. Argus increased their target price on shares of Merck & Co., Inc. to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. set a $96.00 target price on shares of Merck & Co., Inc. and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Leerink Swann started coverage on shares of Merck & Co., Inc. in a research note on Thursday, August 15th. They issued an “outperform” rating and a $103.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $94.00.

In other Merck & Co., Inc. news, EVP Richard R. Deluca sold 6,427 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $85.09, for a total transaction of $546,873.43. Following the transaction, the executive vice president now owns 103,223 shares of the company’s stock, valued at approximately $8,783,245.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Merck & Co., Inc. Profile

Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.

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

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