Advisors Asset Management Inc. Lowers Holdings in Organon & Co. (NYSE:OGN)

Advisors Asset Management Inc. trimmed its position in shares of Organon & Co. (NYSE:OGNGet Rating) by 44.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,716 shares of the company’s stock after selling 12,410 shares during the period. Advisors Asset Management Inc.’s holdings in Organon & Co. were worth $530,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in OGN. Dupont Capital Management Corp raised its stake in shares of Organon & Co. by 94.0% in the first quarter. Dupont Capital Management Corp now owns 1,395 shares of the company’s stock valued at $49,000 after acquiring an additional 676 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Organon & Co. by 3.0% in the first quarter. Nisa Investment Advisors LLC now owns 68,453 shares of the company’s stock valued at $2,391,000 after acquiring an additional 2,000 shares in the last quarter. FourThought Financial LLC raised its stake in shares of Organon & Co. by 31.7% in the first quarter. FourThought Financial LLC now owns 1,442 shares of the company’s stock valued at $50,000 after acquiring an additional 347 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Organon & Co. in the first quarter valued at $1,324,000. Finally, Mutual of America Capital Management LLC raised its stake in shares of Organon & Co. by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 33,808 shares of the company’s stock valued at $1,181,000 after acquiring an additional 361 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OGN has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, November 4th. Bank of America lowered Organon & Co. from a “neutral” rating to an “underperform” rating and set a $25.00 target price on the stock. in a report on Friday, October 14th. Finally, Piper Sandler raised Organon & Co. from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $37.00 to $34.00 in a report on Tuesday, September 6th.

Organon & Co. Stock Performance

Shares of OGN stock opened at $24.40 on Friday. The stock’s 50-day moving average is $25.30 and its two-hundred day moving average is $30.51. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 6.16 and a beta of 0.87. Organon & Co. has a 1 year low of $22.88 and a 1 year high of $39.47.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Thursday, November 10th. Organon & Co.’s payout ratio is 28.28%.

About Organon & Co.

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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