Canandaigua National Bank & Trust Co. Sells 2,136 Shares of Merck & Co., Inc. (NYSE:MRK)

Canandaigua National Bank & Trust Co. cut its position in shares of Merck & Co., Inc. (NYSE:MRK) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,655 shares of the company’s stock after selling 2,136 shares during the period. Merck & Co., Inc. makes up about 1.6% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 11th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in Merck & Co., Inc. were worth $10,774,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $27,000. Burkett Financial Services LLC bought a new stake in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $28,000. Bare Financial Services Inc bought a new stake in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new stake in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $30,000. Finally, RIA Advisory Group LLC purchased a new stake in shares of Merck & Co., Inc. in the fourth quarter worth approximately $30,000. 76.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRK has been the topic of several recent analyst reports. Argus upgraded Merck & Co., Inc. to a “strong-buy” rating in a report on Wednesday, June 5th. TheStreet downgraded Merck & Co., Inc. from a “b+” rating to a “c+” rating in a report on Monday, March 4th. Truist Financial increased their price target on Merck & Co., Inc. from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Societe Generale downgraded Merck & Co., Inc. from a “hold” rating to a “sell” rating and set a $104.00 price objective on the stock. in a report on Monday, March 11th. Finally, Berenberg Bank raised their price objective on Merck & Co., Inc. from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Merck & Co., Inc. Stock Performance

Shares of MRK opened at $127.99 on Wednesday. The stock has a 50-day moving average of $128.66 and a two-hundred day moving average of $122.99. Merck & Co., Inc. has a one year low of $99.14 and a one year high of $133.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a market cap of $324.17 billion, a P/E ratio of 142.21, a P/E/G ratio of 2.46 and a beta of 0.39.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. Merck & Co., Inc. had a return on equity of 14.05% and a net margin of 3.76%. The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.21 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Merck & Co., Inc. will post 8.64 EPS for the current year.

Merck & Co., Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 17th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.08 dividend on an annualized basis and a yield of 2.41%. Merck & Co., Inc.’s payout ratio is 342.22%.

Merck & Co., Inc. Profile

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.