Avalon Trust Co Cuts Stake in Merck & Co., Inc. (NYSE:MRK)

Avalon Trust Co decreased its holdings in Merck & Co., Inc. (NYSE:MRK) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,088 shares of the company’s stock after selling 1,063 shares during the period. Merck & Co., Inc. makes up about 1.4% of Avalon Trust Co’s holdings, making the stock its 22nd biggest holding. Avalon Trust Co’s holdings in Merck & Co., Inc. were worth $19,009,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MRK. Bank of New York Mellon Corp boosted its stake in shares of Merck & Co., Inc. by 29.7% in the 4th quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock valued at $2,408,763,000 after purchasing an additional 5,550,824 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Merck & Co., Inc. by 4.6% in the 3rd quarter. Wellington Management Group LLP now owns 75,809,383 shares of the company’s stock valued at $8,608,914,000 after purchasing an additional 3,327,404 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Merck & Co., Inc. by 748.0% in the 4th quarter. Van ECK Associates Corp now owns 3,149,841 shares of the company’s stock valued at $313,346,000 after purchasing an additional 2,778,388 shares in the last quarter. Two Sigma Advisers LP boosted its position in Merck & Co., Inc. by 157.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,264,100 shares of the company’s stock valued at $484,231,000 after buying an additional 2,610,800 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Merck & Co., Inc. by 68.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,388,551 shares of the company’s stock valued at $611,924,000 after buying an additional 2,194,463 shares during the period. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Up 0.0 %

Shares of Merck & Co., Inc. stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.15. The company has a 50-day moving average of $93.57 and a 200 day moving average of $101.88. The firm has a market cap of $239.27 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.77 and a beta of 0.35. Merck & Co., Inc. has a 1 year low of $81.04 and a 1 year high of $134.63.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.13). The firm had revenue of $15.62 billion for the quarter, compared to the consensus estimate of $15.51 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, sell-side analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Merck & Co., Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s payout ratio is presently 48.14%.

Insider Activity

In related news, insider Cristal N. Downing sold 2,361 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $88.76, for a total value of $209,562.36. Following the transaction, the insider now owns 7,085 shares of the company’s stock, valued at approximately $628,864.60. This trade represents a 24.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Inge G. Thulin acquired 2,833 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average cost of $88.25 per share, for a total transaction of $250,012.25. Following the acquisition, the director now owns 2,933 shares of the company’s stock, valued at $258,837.25. The trade was a 2,833.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MRK. Truist Financial reissued a “hold” rating and set a $110.00 price target (down previously from $130.00) on shares of Merck & Co., Inc. in a research report on Wednesday, January 8th. Morgan Stanley dropped their price target on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. TD Securities cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price target for the company from $121.00 to $100.00 in a research report on Monday, February 10th. BMO Capital Markets decreased their price objective on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, Hsbc Global Res upgraded shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.12.

Merck & Co., Inc. Company Profile

Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.