Bank of Montreal Can increased its stake in Organon & Co. (NYSE:OGN – Get Rating) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 272,468 shares of the company’s stock after buying an additional 7,127 shares during the quarter. Bank of Montreal Can’s holdings in Organon & Co. were worth $10,184,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Crestwood Advisors Group LLC purchased a new stake in Organon & Co. during the second quarter valued at about $201,000. Wealthsource Partners LLC bought a new position in shares of Organon & Co. during the first quarter valued at about $314,000. Banque Pictet & Cie SA bought a new position in shares of Organon & Co. during the second quarter valued at about $1,712,000. Treasurer of the State of North Carolina raised its stake in shares of Organon & Co. by 15.0% during the second quarter. Treasurer of the State of North Carolina now owns 107,500 shares of the company’s stock valued at $3,628,000 after acquiring an additional 14,046 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Organon & Co. during the second quarter valued at about $254,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on OGN. Piper Sandler raised shares of Organon & Co. from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $37.00 to $34.00 in a research note on Tuesday, September 6th. Bank of America downgraded shares of Organon & Co. from a “neutral” rating to an “underperform” rating and set a $25.00 price objective for the company. in a research note on Friday, October 14th. Finally, Morgan Stanley lowered their price objective on shares of Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 4th.
Organon & Co. Price Performance
Organon & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, November 10th. Organon & Co.’s payout ratio is currently 28.28%.
Organon & Co. Company Profile
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.
- Get a free copy of the StockNews.com research report on Organon & Co. (OGN)
- Is the 60/40 Portfolio Mix Still in Vogue?
- Institutional Support for Analog Devices Remains High
- Three CBD Stocks to Dominate a Budding Industry
- Microsoft Shares: Is it Time to Back Up the Truck?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
Receive News & Ratings for Organon & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organon & Co. and related companies with MarketBeat.com's FREE daily email newsletter.