State of Michigan Retirement System trimmed its holdings in Merck & Co., Inc. (NYSE:MRK – Get Rating) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 723,790 shares of the company’s stock after selling 5,400 shares during the quarter. State of Michigan Retirement System’s holdings in Merck & Co., Inc. were worth $80,305,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Financial Solutions LLC acquired a new position in Merck & Co., Inc. in the fourth quarter valued at approximately $26,000. Legend Financial Advisors Inc. acquired a new stake in shares of Merck & Co., Inc. during the 3rd quarter worth approximately $27,000. Tradewinds Capital Management LLC increased its stake in shares of Merck & Co., Inc. by 41.5% in the 4th quarter. Tradewinds Capital Management LLC now owns 317 shares of the company’s stock valued at $35,000 after acquiring an additional 93 shares in the last quarter. Hanseatic Management Services Inc. acquired a new position in shares of Merck & Co., Inc. during the 4th quarter valued at $38,000. Finally, EdgeRock Capital LLC bought a new position in Merck & Co., Inc. during the third quarter worth $30,000. Institutional investors own 72.89% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on MRK shares. Truist Financial lifted their price target on shares of Merck & Co., Inc. from $106.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. StockNews.com began coverage on Merck & Co., Inc. in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Barclays upped their price target on Merck & Co., Inc. from $110.00 to $128.00 in a research note on Tuesday, December 20th. Cowen increased their price target on Merck & Co., Inc. from $108.00 to $120.00 in a report on Tuesday, January 3rd. Finally, Societe Generale downgraded Merck & Co., Inc. from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.35.
Merck & Co., Inc. Price Performance
Merck & Co., Inc. (NYSE:MRK – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. The business 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%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. On average, equities research analysts forecast that Merck & Co., Inc. will post 6.87 earnings per share for the current year.
Merck & Co., Inc. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Wednesday, March 15th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.92 annualized dividend and a yield of 2.60%. Merck & Co., Inc.’s payout ratio is 51.14%.
Insider Buying and Selling at Merck & Co., Inc.
In other Merck & Co., Inc. news, EVP Steven Mizell sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $107.00, for a total value of $535,000.00. Following the completion of the sale, the executive vice president now directly owns 34,900 shares of the company’s stock, valued at $3,734,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 16,251 shares of company stock valued at $1,736,570. Company insiders own 0.29% of the company’s stock.
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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