Park National Reduces Merck Stake Amid Insider Sales and Strong Earnings
Park National Corp OH reduced its stake in Merck & Co., Inc. (NYSE: MRK) by 6.1% during the third quarter, according to its latest SEC filing. The institutional investor sold 7,788 shares, leaving it with 120,805 shares valued at $17,554,000. Other large investors also adjusted their positions, with Abound Financial LLC, Bullseye Investment Management LLC, Horizons Wealth Management, Graney & King LLC, and Montgomery Financial Services LLC making notable moves.
In related news, two executive vice presidents at Merck sold significant shares of the company's stock. David Williams sold 52,847 shares on August 5th at an average price of $128.77, reducing his ownership by 62.49%. Chirfi Guindo sold 15,000 shares on August 6th at $131.00 per share, decreasing his position by 24.35%. Overall, insiders sold 228,238 shares worth $29,977,783 in the last 90 days.
Merck & Co., Inc. reported earnings on August 4th, beating analysts' estimates with a profit of $16.61 billion in revenue. The company has set its FY 2026 guidance at 2.660-2.760 EPS. The stock has a market capitalization of $346.37 billion, a P/E ratio of 112.33, and a beta of 0.21. Analysts have set a consensus rating of "Moderate Buy" with an average target price of $146.36.
The company recently announced a quarterly dividend of $0.85, payable on October 7th to investors of record on September 15th. Merck's dividend payout ratio is currently 272.00%. The stock has a 12-month low of $82.01 and a high of $156.92, with a 50-day moving average of $142.73 and a 200-day moving average of $127.40.