Empire Financial Management Company LLC Cuts Stake in Merck & Co., Inc. (NYSE:MRK)

Empire Financial Management Company LLC decreased its holdings in Merck & Co., Inc. (NYSE:MRK - Free Report) by 17.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,933 shares of the company's stock after selling 5,000 shares during the period. Empire Financial Management Company LLC's holdings in Merck & Co., Inc. were worth $2,381,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MRK. Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday, February 18th. Cantor Fitzgerald assumed coverage on Merck & Co., Inc. in a report on Tuesday. They issued a "neutral" rating and a $85.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Leerink Partners lowered their price objective on shares of Merck & Co., Inc. from $136.00 to $119.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. Finally, Morgan Stanley cut their price objective 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. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.13.

Insider Activity

In other news, insider Cristal N. Downing sold 2,361 shares of Merck & Co., Inc. stock in a transaction that occurred on Thursday, February 6th. The shares were 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 owns 7,085 shares of the company's stock, valued at approximately $628,864.60. The trade was a 24.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Inge G. Thulin acquired 2,833 shares of the company's 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 purchase, the director now owns 2,933 shares of the company's stock, valued at $258,837.25. This 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. Stock Down 0.3 %

NYSE MRK opened at $78.73 on Thursday. Merck & Co., Inc. has a 52 week low of $75.93 and a 52 week high of $134.63. The firm has a market capitalization of $198.54 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.77 and a beta of 0.40. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average of $87.12 and a two-hundred day moving average of $95.61.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted 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). 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 during the quarter, compared to analysts' expectations of $15.51 billion. During the same period last year, the company earned $0.03 earnings per share. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts predict that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 17th were given a dividend of $0.81 per share. The ex-dividend date was Monday, March 17th. This represents a $3.24 annualized dividend and a dividend yield of 4.12%. Merck & Co., Inc.'s dividend payout ratio (DPR) is 48.14%.

Merck & Co., Inc. announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.