Rockland Trust Co. reduced its stake in shares of Merck & Co., Inc. (NYSE:MRK – Get Rating) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,449 shares of the company’s stock after selling 9,567 shares during the quarter. Merck & Co., Inc. accounts for approximately 2.9% of Rockland Trust Co.’s portfolio, making the stock its 5th largest holding. Rockland Trust Co.’s holdings in Merck & Co., Inc. were worth $45,539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC purchased a new position in shares of Merck & Co., Inc. in the 4th quarter worth $26,000. Legend Financial Advisors Inc. purchased a new position in shares of Merck & Co., Inc. in the third quarter valued at about $27,000. EdgeRock Capital LLC purchased a new position in shares of Merck & Co., Inc. in the third quarter valued at about $30,000. Mach 1 Financial Group LLC bought a new stake in shares of Merck & Co., Inc. in the third quarter worth about $30,000. Finally, New Millennium Group LLC bought a new stake in shares of Merck & Co., Inc. in the second quarter worth about $35,000. 72.89% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, insider Sanat Chattopadhyay sold 83,994 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $112.29, for a total transaction of $9,431,686.26. Following the sale, the insider now owns 29,500 shares of the company’s stock, valued at $3,312,555. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Merck & Co., Inc. news, EVP Steven Mizell sold 1,815 shares of Merck & Co., Inc. stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $109.10, for a total transaction of $198,016.50. Following the completion of the transaction, the executive vice president now owns 33,085 shares in the company, valued at $3,609,573.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanat Chattopadhyay sold 83,994 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $112.29, for a total transaction of $9,431,686.26. Following the completion of the transaction, the insider now directly owns 29,500 shares of the company’s stock, valued at approximately $3,312,555. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,245 shares of company stock valued at $11,168,256. Corporate insiders own 0.29% of the company’s stock.
Merck & Co., Inc. Stock Performance
Merck & Co., Inc. (NYSE:MRK – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.66 billion. Merck & Co., Inc. had a net margin of 24.49% and a return on equity of 43.47%. Merck & Co., Inc.’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.80 earnings per share. On average, research analysts predict that Merck & Co., Inc. will post 6.87 EPS for the current fiscal year.
Merck & Co., Inc. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Wednesday, March 15th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Tuesday, March 14th. Merck & Co., Inc.’s dividend payout ratio is currently 51.14%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on MRK. Credit Suisse Group lifted their target price on Merck & Co., Inc. from $125.00 to $126.00 and gave the stock an “outperform” rating in a report on Tuesday, March 7th. Bank of America raised Merck & Co., Inc. from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $130.00 in a research note on Wednesday, January 4th. StockNews.com began coverage on Merck & Co., Inc. in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Wolfe Research upgraded Merck & Co., Inc. from a “peer perform” rating to an “outperform” rating and set a $127.00 price target for the company in a report on Wednesday, February 22nd. Finally, Atlantic Securities upped their target price on Merck & Co., Inc. from $122.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday, March 7th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Merck & Co., Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.35.
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.
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