Summit Financial LLC Buys 25,997 Shares of Merck & Co., Inc. (NYSE:MRK)

Summit Financial LLC lifted its stake in Merck & Co., Inc. (NYSE:MRK) by 34.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,099 shares of the company’s stock after acquiring an additional 25,997 shares during the period. Summit Financial LLC’s holdings in Merck & Co., Inc. were worth $10,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC bought a new position in Merck & Co., Inc. in the 4th quarter worth $26,000. Financial Life Planners acquired a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at about $28,000. Noble Wealth Management PBC bought a new position in shares of Merck & Co., Inc. in the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Merck & Co., Inc. during the 4th quarter worth about $28,000. Finally, Promus Capital LLC bought a new stake in Merck & Co., Inc. during the 4th quarter valued at approximately $30,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Merck & Co., Inc. Stock Up 1.8 %

Shares of NYSE:MRK opened at $89.18 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.15 and a current ratio of 1.36. The company has a market capitalization of $225.27 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Merck & Co., Inc. has a 52-week low of $81.04 and a 52-week high of $134.63. The company has a fifty day moving average of $91.92 and a 200-day moving average of $100.00.

Merck & Co., Inc. (NYSE:MRK) last announced its earnings results on Tuesday, February 4th. The company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.13). Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The company had revenue of $15.62 billion during the quarter, compared to the consensus estimate of $15.51 billion. During the same quarter in the previous year, the company earned $0.03 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be given a dividend of $0.81 per share. The ex-dividend date is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.63%. Merck & Co., Inc.’s payout ratio is presently 48.14%.

Merck & Co., Inc. declared that its board has authorized a share repurchase plan on Tuesday, January 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and cut their price target for the stock from $128.00 to $105.00 in a report on Tuesday, February 18th. Bank of America reduced their price target on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Citigroup cut their price objective on shares of Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, UBS Group decreased their target price on Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.12.

Insider Buying and Selling

In related news, insider Cristal N. Downing sold 2,361 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $88.76, for a total transaction of $209,562.36. Following the transaction, the insider now directly owns 7,085 shares of the company’s stock, valued at $628,864.60. This trade represents a 24.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Inge G. Thulin acquired 2,833 shares of the business’s stock in a transaction 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 transaction, the director now owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. The trade was a 2,833.00 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

About Merck & Co., Inc.

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.