Canandaigua National Corp Purchases 20,218 Shares of Merck & Co., Inc. (NYSE:MRK)

Canandaigua National Corp grew its position in shares of Merck & Co., Inc. (NYSE:MRKGet Rating) by 23.4% in the 1st quarter, HoldingsChannel reports. The fund owned 106,612 shares of the company’s stock after buying an additional 20,218 shares during the period. Merck & Co., Inc. makes up about 1.3% of Canandaigua National Corp’s holdings, making the stock its 14th biggest holding. Canandaigua National Corp’s holdings in Merck & Co., Inc. were worth $8,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $14,875,000. Assenagon Asset Management S.A. boosted its position in shares of Merck & Co., Inc. by 8.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 49,999 shares of the company’s stock valued at $3,832,000 after buying an additional 3,741 shares during the last quarter. RBA Wealth Management LLC purchased a new position in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $242,000. JB Capital LLC boosted its position in shares of Merck & Co., Inc. by 266.1% during the fourth quarter. JB Capital LLC now owns 13,456 shares of the company’s stock valued at $1,031,000 after buying an additional 9,781 shares during the last quarter. Finally, Hallmark Capital Management Inc. boosted its position in shares of Merck & Co., Inc. by 1.7% during the fourth quarter. Hallmark Capital Management Inc. now owns 62,555 shares of the company’s stock valued at $4,795,000 after buying an additional 1,019 shares during the last quarter. Institutional investors own 72.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Daiwa Capital Markets raised Merck & Co., Inc. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $102.00 in a research report on Wednesday, July 6th. Atlantic Securities boosted their price objective on Merck & Co., Inc. from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Cowen boosted their price objective on Merck & Co., Inc. from $95.00 to $102.00 and gave the stock a “market perform” rating in a research report on Monday, June 27th. Cowen boosted their price objective on Merck & Co., Inc. from $95.00 to $102.00 and gave the stock a “market perform” rating in a research report on Monday, June 27th. Finally, SVB Leerink reissued an “outperform” rating and issued a $102.00 price objective on shares of Merck & Co., Inc. in a research report on Monday, June 6th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $97.44.

Merck & Co., Inc. Stock Up 1.8 %

MRK stock traded up $1.62 on Tuesday, reaching $90.11. 250,759 shares of the company traded hands, compared to its average volume of 8,569,976. Merck & Co., Inc. has a one year low of $70.89 and a one year high of $95.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.40 and a quick ratio of 1.14. The company has a market cap of $227.87 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 0.32. The firm has a fifty day simple moving average of $90.18 and a 200-day simple moving average of $85.50.

Merck & Co., Inc. (NYSE:MRKGet Rating) last posted its earnings results on Thursday, July 28th. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.18. The business had revenue of $14.59 billion during the quarter, compared to analyst estimates of $13.85 billion. Merck & Co., Inc. had a return on equity of 50.02% and a net margin of 29.00%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. Research analysts anticipate that Merck & Co., Inc. will post 7.31 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 15th will be paid a $0.69 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.06%. Merck & Co., Inc.’s dividend payout ratio (DPR) is currently 42.27%.

About Merck & Co., Inc.

(Get Rating)

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, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.

Further Reading

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

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