Broadway Wealth Solutions Inc. Invests $562,000 in Merck & Co., Inc. (NYSE:MRK)

Broadway Wealth Solutions Inc. acquired a new stake in Merck & Co., Inc. (NYSE:MRK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,646 shares of the company's stock, valued at approximately $562,000. Merck & Co., Inc. accounts for 0.4% of Broadway Wealth Solutions Inc.'s portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of MRK. Norges Bank acquired a new position in Merck & Co., Inc. in the fourth quarter worth about $3,479,799,000. Bank of New York Mellon Corp grew 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 during the period. Wellington Management Group LLP raised its holdings 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 worth $8,608,914,000 after buying an additional 3,327,404 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Merck & Co., Inc. by 748.0% during the 4th quarter. Van ECK Associates Corp now owns 3,149,841 shares of the company's stock worth $313,346,000 after buying an additional 2,778,388 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Merck & Co., Inc. by 157.9% in 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 in the last quarter. Institutional investors and hedge funds own 76.07% of the company's stock.

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Merck & Co., Inc. Stock Up 0.1 %

Shares of Merck & Co., Inc. stock traded up $0.05 on Monday, reaching $89.28. 3,646,257 shares of the company were exchanged, compared to its average volume of 11,026,658. The company has a market capitalization of $225.53 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.77 and a beta of 0.35. 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 one year low of $81.04 and a one year high of $134.63. The company has a 50-day moving average of $91.92 and a 200 day moving average of $100.00.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.13). Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The firm had revenue of $15.62 billion for the quarter, compared to the consensus estimate of $15.51 billion. During the same period last year, the company posted $0.03 earnings per share. The business's revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors 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 yield of 3.63%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.'s payout ratio is currently 48.14%.

Merck & Co., Inc. announced 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 usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MRK shares. HSBC raised shares of Merck & Co., Inc. from a "hold" rating to a "buy" rating and set a $130.00 price objective on the stock in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Merck & Co., Inc. from a "buy" rating to a "hold" rating and cut their target price for the company from $128.00 to $105.00 in a research report on Tuesday, February 18th. Citigroup reduced their price target on Merck & Co., Inc. from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Bank of America decreased 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. Finally, UBS Group decreased their price objective on Merck & Co., Inc. from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Merck & Co., Inc. currently has an average rating of "Moderate Buy" and an average target price of $117.12.

Insiders Place Their Bets

In related news, insider Cristal N. Downing sold 2,361 shares of Merck & Co., Inc. stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $88.76, for a total transaction of $209,562.36. Following the completion of the sale, the insider now directly owns 7,085 shares of the company's stock, valued at approximately $628,864.60. This trade represents a 24.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Inge G. Thulin acquired 2,833 shares of the stock in a transaction on Thursday, February 6th. The shares were purchased at an average price of $88.25 per share, for a total transaction of $250,012.25. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Company insiders own 0.09% 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.