Summitry LLC Cuts Position in Merck & Co., Inc. (NYSE:MRK)

Summitry LLC lowered its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,194 shares of the company’s stock after selling 554 shares during the period. Summitry LLC’s holdings in Merck & Co., Inc. were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Hsbc Global Res raised Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Guggenheim reduced their price objective on Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. HSBC upgraded Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Wednesday, December 4th. Truist Financial restated a “hold” rating and issued a $110.00 target price (down from $130.00) on shares of Merck & Co., Inc. in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $128.00 to $105.00 in a report on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating, nine have issued 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 $117.12.

Insider Buying and Selling

In related news, Director Inge G. Thulin purchased 2,833 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was purchased 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 in the company, valued at approximately $258,837.25. This trade represents a 2,833.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cristal N. Downing sold 2,361 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was 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 in the company, valued at approximately $628,864.60. This represents a 24.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Merck & Co., Inc. Stock Down 4.8 %

Shares of NYSE MRK opened at $87.88 on Wednesday. Merck & Co., Inc. has a 52-week low of $81.04 and a 52-week high of $134.63. The firm has a fifty day moving average of $92.60 and a 200-day moving average of $100.57. The stock has a market capitalization of $221.99 billion, a PE ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79.

Merck & Co., Inc. (NYSE:MRK) last issued its earnings results 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 during the quarter, compared to analyst estimates of $15.51 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. Merck & Co., Inc.’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. On average, analysts anticipate that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. Dividend Announcement

The company also recently announced 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 3.69%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s payout ratio is currently 48.14%.

Merck & Co., Inc. declared that its board has approved a stock repurchase program on Tuesday, January 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Merck & Co., Inc. 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.