Merck & Co., Inc. (NYSE:MRK) Shares Sold by Cutler Investment Counsel LLC

Posted by Defense World Staff on Apr 9th, 2023

Cutler Investment Counsel LLC lessened its stake in Merck & Co., Inc. (NYSE:MRK – Get Rating) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,270 shares of the company’s stock after selling 3,976 shares during the quarter. Merck & Co., Inc. makes up approximately 1.8% of Cutler Investment Counsel LLC’s holdings, making the stock its 22nd biggest holding. Cutler Investment Counsel LLC’s holdings in Merck & Co., Inc. were worth $11,756,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Retirement Financial Solutions LLC acquired a new position in Merck & Co., Inc. in the fourth quarter worth $26,000. Legend Financial Advisors Inc. bought a new position in shares of Merck & Co., Inc. in the 3rd quarter worth about $27,000. EdgeRock Capital LLC acquired a new position in shares of Merck & Co., Inc. in the 3rd quarter valued at about $30,000. Mach 1 Financial Group LLC bought a new stake in shares of Merck & Co., Inc. during the 3rd quarter valued at about $30,000. Finally, New Millennium Group LLC acquired a new stake in Merck & Co., Inc. during the second quarter worth about $35,000. Institutional investors own 72.89% of the company’s stock.

Analyst Ratings Changes

MRK has been the topic of several recent research reports. Jefferies Financial Group began coverage on Merck & Co., Inc. in a report on Monday, March 6th. They issued a “buy” rating and a $125.00 price target on the stock. Barclays lifted their price target on Merck & Co., Inc. from $110.00 to $128.00 in a report on Tuesday, December 20th. Credit Suisse Group increased their price objective on Merck & Co., Inc. from $125.00 to $126.00 and gave the stock an “outperform” rating in a report on Tuesday, March 7th. Guggenheim lifted their target price on Merck & Co., Inc. from $116.00 to $123.00 in a research note on Thursday, March 9th. Finally, Cantor Fitzgerald increased their price target on Merck & Co., Inc. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, December 19th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $119.35.

Insiders Place Their Bets

In other news, EVP Steven Mizell sold 4,436 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $104.25, for a total transaction of $462,453.00. Following the sale, the executive vice president now owns 39,900 shares in the company, valued at $4,159,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Sanat Chattopadhyay sold 83,994 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $112.29, for a total value of $9,431,686.26. Following the completion of the sale, the insider now owns 29,500 shares of the company’s stock, valued at $3,312,555. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven Mizell sold 4,436 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $104.25, for a total value of $462,453.00. Following the transaction, the executive vice president now directly owns 39,900 shares in the company, valued at $4,159,575. The disclosure for this sale can be found here. Insiders sold a total of 100,245 shares of company stock worth $11,168,256 over the last ninety days. 0.29% of the stock is currently owned by company insiders.

Merck & Co., Inc. Trading Up 0.4 %

Merck & Co., Inc. stock opened at $112.33 on Friday. The firm has a market cap of $285.06 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.34. Merck & Co., Inc. has a 1 year low of $83.05 and a 1 year high of $115.49. The firm’s 50 day moving average price is $107.43 and its two-hundred day moving average price is $104.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.23 and a current ratio of 1.47.

Merck & Co., Inc. (NYSE:MRK – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Merck & Co., Inc. had a return on equity of 43.47% and a net margin of 24.49%. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $13.66 billion. During the same period in the previous year, the firm posted $1.80 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, March 14th. Merck & Co., Inc.’s dividend payout ratio is presently 51.14%.

About Merck & Co., Inc.

(Get Rating)

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.