Pinebridge Investments L.P. Lowers Stake in Merck & Co., Inc. (NYSE:MRK)

Pinebridge Investments L.P. trimmed its position in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 32.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 396,753 shares of the company's stock after selling 194,480 shares during the quarter. Pinebridge Investments L.P.'s holdings in Merck & Co., Inc. were worth $39,469,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MRK. Norges Bank acquired a new position in shares of Merck & Co., Inc. during the fourth quarter worth $3,479,799,000. Bank of New York Mellon Corp raised its stake in Merck & Co., Inc. by 29.7% in the fourth 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 buying an additional 5,550,824 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Merck & Co., Inc. by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 80,742,030 shares of the company's stock worth $8,032,217,000 after acquiring an additional 4,932,647 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Merck & Co., Inc. by 63.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,577,535 shares of the company's stock worth $1,151,642,000 after acquiring an additional 4,480,007 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Merck & Co., Inc. by 23.8% during the fourth quarter. Franklin Resources Inc. now owns 19,872,444 shares of the company's stock worth $1,976,911,000 after acquiring an additional 3,823,283 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors.

Merck & Co., Inc. Price Performance

MRK traded up $1.19 on Thursday, hitting $79.93. 18,459,381 shares of the company's stock were exchanged, compared to its average volume of 11,829,176. Merck & Co., Inc. has a fifty-two week low of $75.93 and a fifty-two week high of $134.63. The stock has a market cap of $201.56 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.77 and a beta of 0.40. The firm has a 50-day moving average price of $87.06 and a 200-day moving average price of $95.41. 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. (NYSE:MRK - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.06. The business had revenue of $15.53 billion for the quarter, compared to analyst estimates of $15.59 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. As a group, equities analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 17th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, March 17th. Merck & Co., Inc.'s dividend payout ratio (DPR) is presently 48.14%.

Merck & Co., Inc. declared that its board has authorized a share repurchase program on Tuesday, January 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen cut Merck & Co., Inc. from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $121.00 to $100.00 in a research note on Monday, February 10th. Bank of America reduced their price target on Merck & Co., Inc. from $118.00 to $112.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. Citigroup lowered their price objective 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. TD Securities lowered shares of Merck & Co., Inc. from a "buy" rating to a "hold" rating and cut their target price for the company from $121.00 to $100.00 in a report on Monday, February 10th. 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. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $111.13.

Insider Transactions at Merck & Co., Inc.

In other Merck & Co., Inc. news, insider Cristal N. Downing sold 2,361 shares of Merck & Co., Inc. 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. The trade was a 24.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Inge G. Thulin bought 2,833 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was purchased at an average price of $88.25 per share, for a total transaction of $250,012.25. Following the completion of the acquisition, the director now directly owns 2,933 shares in the company, valued at $258,837.25. The trade was 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. 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.