Saturday, 23 March 2019
BREAKING NEWS

Dai Ichi Life Insurance Company Ltd Sold 19601 Shares of Merck & Co., Inc. (MRK)

Dai Ichi Life Insurance Company Ltd reduced its position in Merck & Co., Inc. (NYSE:MRK) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,330 shares of the company’s stock after selling 19,601 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Merck & Co., Inc. were worth $21,083,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Rockland Trust Co. bought a new position in Merck & Co., Inc. in the second quarter worth about $3,949,000. Sawyer & Company Inc increased its holdings in shares of Merck & Co., Inc. by 10.7% during the second quarter. Sawyer & Company Inc now owns 22,984 shares of the company’s stock valued at $1,395,000 after acquiring an additional 2,215 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Merck & Co., Inc. by 37.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 122,748 shares of the company’s stock valued at $7,451,000 after acquiring an additional 33,153 shares in the last quarter. Bogart Wealth LLC acquired a new position in shares of Merck & Co., Inc. during the second quarter valued at about $2,084,000. Finally, HL Financial Services LLC increased its holdings in shares of Merck & Co., Inc. by 0.7% during the second quarter. HL Financial Services LLC now owns 217,281 shares of the company’s stock valued at $13,189,000 after acquiring an additional 1,540 shares in the last quarter. Hedge funds and other institutional investors own 72.18% of the company’s stock.

Shares of NYSE MRK opened at $68.37 on Friday. The company has a market capitalization of $191.27 billion, a P/E ratio of 17.18, a PEG ratio of 2.22 and a beta of 0.81. Merck & Co., Inc. has a 52 week low of $52.83 and a 52 week high of $72.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.04 and a current ratio of 1.33.

Merck & Co., Inc. (NYSE:MRK) last issued its earnings results on Friday, July 27th. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.03. The firm had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.28 billion. Merck & Co., Inc. had a return on equity of 32.68% and a net margin of 3.67%. Merck & Co., Inc.’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Sell-side analysts predict that Merck & Co., Inc. will post 4.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Monday, September 17th were given a $0.48 dividend. The ex-dividend date was Friday, September 14th. This represents a $1.92 dividend on an annualized basis and a yield of 2.81%. Merck & Co., Inc.’s dividend payout ratio is currently 48.24%.

In related news, Chairman Kenneth C. Frazier sold 228,091 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $65.00, for a total value of $14,825,915.00. Following the sale, the chairman now owns 938,788 shares in the company, valued at $61,021,220. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kenneth C. Frazier sold 279,850 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $72.07, for a total value of $20,168,789.50. Following the completion of the sale, the chairman now owns 971,800 shares in the company, valued at approximately $70,037,626. The disclosure for this sale can be found here. In the last quarter, insiders sold 929,360 shares of company stock worth $64,370,599. 0.32% of the stock is owned by insiders.

Several research firms have recently issued reports on MRK. BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Merck & Co., Inc. in a report on Sunday, July 22nd. Zacks Investment Research upgraded shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Wednesday, September 26th. Jefferies Financial Group restated a “hold” rating and set a $59.00 price objective on shares of Merck & Co., Inc. in a report on Sunday, July 15th. Bank of America upped their price objective on shares of Merck & Co., Inc. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Monday, July 30th. Finally, Morgan Stanley set a $74.00 price objective on shares of Merck & Co., Inc. and gave the company a “buy” rating in a report on Thursday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Merck & Co., Inc. currently has an average rating of “Buy” and a consensus target price of $69.61.

Merck & Co., Inc. Profile

Merck & Co, Inc provides healthcare solutions worldwide. It operates in four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular diseases, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, and fertility diseases.

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Source: http://bharatapress.com/2018/10/14/dai-ichi-life-insurance-company-ltd-sells-19601-shares-of-merck-co-inc-mrk/

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