Royal Bank of Canada Has $1.83 Billion Position in Merck & Co., Inc. (NYSE:MRK)

Royal Bank of Canada boosted its holdings in Merck & Co., Inc. (NYSE:MRK) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,375,974 shares of the company’s stock after acquiring an additional 1,742,313 shares during the period. Royal Bank of Canada owned 0.73% of Merck & Co., Inc. worth $1,828,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MRK. Norges Bank bought a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at approximately $3,479,799,000. Bank of New York Mellon Corp boosted its stake in shares of Merck & Co., Inc. by 29.7% in the fourth 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 buying an additional 5,550,824 shares during the period. Wellington Management Group LLP boosted its stake in shares of Merck & Co., Inc. by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 80,742,030 shares of the company’s stock valued at $8,032,217,000 after buying an additional 4,932,647 shares during the period. Northern Trust Corp boosted its stake in shares of Merck & Co., Inc. by 16.8% in the fourth quarter. Northern Trust Corp now owns 31,377,107 shares of the company’s stock valued at $3,121,395,000 after buying an additional 4,511,742 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Merck & Co., Inc. by 63.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,577,535 shares of the company’s stock worth $1,151,642,000 after buying an additional 4,480,007 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Trading Up 1.6%

NYSE:MRK opened at $74.68 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. Merck & Co., Inc. has a 12 month low of $73.31 and a 12 month high of $134.63. The stock has a market cap of $187.52 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.77 and a beta of 0.43. The company has a 50-day moving average price of $83.83 and a 200-day moving average price of $92.51.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.06. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The firm had revenue of $15.53 billion for the quarter, compared to analysts’ expectations of $15.59 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. announced that its board has initiated a stock repurchase program on Tuesday, January 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MRK shares. BMO Capital Markets reduced their price objective on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Citigroup reiterated a “neutral” rating and set a $84.00 price objective (down from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday. StockNews.com lowered Merck & Co., Inc. from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 25th. TD Cowen lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price target for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Finally, Morgan Stanley decreased their price target on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and an average price target of $109.19.

Insiders Place Their Bets

In related news, SVP Dalton E. Smart III sold 4,262 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $82.76, for a total transaction of $352,723.12. Following the completion of the sale, the senior vice president now owns 7,778 shares in the company, valued at approximately $643,707.28. This trade represents a 35.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.