Suncoast Equity Management Sells 7,618 Shares of Merck & Co., Inc. (NYSE:MRK)

Posted by on Apr 10th, 2023

Suncoast Equity Management reduced its stake in Merck & Co., Inc. (NYSE:MRK – Get Rating) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 264,796 shares of the company’s stock after selling 7,618 shares during the quarter. Merck & Co., Inc. comprises about 5.4% of Suncoast Equity Management’s portfolio, making the stock its 6th largest holding. Suncoast Equity Management’s holdings in Merck & Co., Inc. were worth $29,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Marion Wealth Management increased its holdings in shares of Merck & Co., Inc. by 18.5% in the fourth quarter. Marion Wealth Management now owns 21,538 shares of the company’s stock valued at $2,390,000 after purchasing an additional 3,366 shares during the period. Crescent Sterling Ltd. purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $806,000. S.C. Financial Services Inc. increased its holdings in Merck & Co., Inc. by 5.4% in the 4th quarter. S.C. Financial Services Inc. now owns 8,540 shares of the company’s stock worth $947,000 after buying an additional 438 shares during the period. Capital Investment Advisors LLC raised its position in Merck & Co., Inc. by 15.1% during the 4th quarter. Capital Investment Advisors LLC now owns 376,138 shares of the company’s stock worth $41,733,000 after buying an additional 49,374 shares during the last quarter. Finally, Red Door Wealth Management LLC lifted its stake in Merck & Co., Inc. by 5.4% during the 4th quarter. Red Door Wealth Management LLC now owns 54,662 shares of the company’s stock valued at $6,065,000 after acquiring an additional 2,790 shares during the period. 72.89% of the stock is currently owned by institutional investors and hedge funds.

Merck & Co., Inc. Price Performance

NYSE:MRK opened at $112.33 on Monday. The stock has a 50 day moving average of $107.43 and a two-hundred day moving average of $104.54. Merck & Co., Inc. has a 12 month low of $83.05 and a 12 month high of $115.49. The firm has a market cap of $285.06 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.34. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.62.

Merck & Co., Inc. (NYSE:MRK – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $13.66 billion. Merck & Co., Inc. had a return on equity of 43.47% and a net margin of 24.49%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 earnings per share. On average, analysts expect that Merck & Co., Inc. will post 6.87 earnings per share for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Wednesday, March 15th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Tuesday, March 14th. Merck & Co., Inc.’s dividend payout ratio is currently 51.14%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MRK shares. Societe Generale lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Cantor Fitzgerald lifted their price objective on Merck & Co., Inc. from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Morgan Stanley decreased their price objective on Merck & Co., Inc. from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Friday, February 3rd. SVB Leerink raised their target price on Merck & Co., Inc. from $120.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Guggenheim boosted their price target on Merck & Co., Inc. from $116.00 to $123.00 in a report on Thursday, March 9th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.35.

Insider Buying and Selling

In other Merck & Co., Inc. news, insider Joseph Romanelli sold 5,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $108.22, for a total value of $541,100.00. Following the completion of the sale, the insider now owns 20,284 shares in the company, valued at approximately $2,195,134.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph Romanelli sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $108.22, for a total value of $541,100.00. Following the completion of the sale, the insider now directly owns 20,284 shares in the company, valued at $2,195,134.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Mizell sold 1,815 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $109.10, for a total value of $198,016.50. Following the completion of the sale, the executive vice president now directly owns 33,085 shares of the company’s stock, valued at approximately $3,609,573.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,251 shares of company stock worth $1,736,570. 0.29% of the stock is owned by insiders.

Merck & Co., Inc. Company Profile

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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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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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