Congress Wealth Management LLC DE trimmed its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,140 shares of the company's stock after selling 9,316 shares during the period. Congress Wealth Management LLC DE's holdings in Merck & Co., Inc. were worth $22,994,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of MRK. Midwest Capital Advisors LLC acquired a new position in shares of Merck & Co., Inc. during the 4th quarter worth about $26,000. Financial Life Planners bought a new position in Merck & Co., Inc. during the fourth quarter worth about $28,000. Noble Wealth Management PBC acquired a new position in Merck & Co., Inc. during the fourth quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $28,000. Finally, Promus Capital LLC acquired a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at approximately $30,000. Institutional investors own 76.07% of the company's stock.
Insider Activity
In other news, insider Cristal N. Downing sold 2,361 shares of the business'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 in the company, valued at approximately $628,864.60. The trade was a 24.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Inge G. Thulin acquired 2,833 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were purchased at an average price of $88.25 per share, with a total value of $250,012.25. Following the completion of the transaction, the director now owns 2,933 shares of the company's stock, valued at $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. Insiders own 0.09% of the company's stock.
Merck & Co., Inc. Price Performance
MRK stock traded down $4.43 during trading on Tuesday, reaching $87.88. 20,632,114 shares of the company were exchanged, compared to its average volume of 10,254,244. The company has a market capitalization of $221.99 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 0.35. 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 $92.60 and a two-hundred day moving average of $100.57. Merck & Co., Inc. has a twelve month low of $81.04 and a twelve month high of $134.63.
Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued 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 return on equity of 45.35% and a net margin of 26.67%. The company's revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, equities analysts predict that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.
Merck & Co., Inc. announced that its board has approved 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 shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Merck & Co., Inc. Announces Dividend
The firm 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 of this dividend is Monday, March 17th. This represents a $3.24 annualized dividend and a yield of 3.69%. Merck & Co., Inc.'s dividend payout ratio is presently 48.14%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on MRK shares. Citigroup dropped their price target on Merck & Co., Inc. from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Leerink Partners reduced their target price on shares of Merck & Co., Inc. from $136.00 to $119.00 and set an "outperform" rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft downgraded shares of Merck & Co., Inc. from a "buy" rating to a "hold" rating and cut their price objective for the stock from $128.00 to $105.00 in a research report on Tuesday, February 18th. Guggenheim decreased their target price 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. Finally, Morgan Stanley dropped their price target on Merck & Co., Inc. from $113.00 to $106.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $117.12.
Check Out Our Latest Stock Report on Merck & Co., Inc.
About Merck & Co., Inc.
(
Free Report)
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.
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