Asio Capital LLC reduced its position in shares of Merck & Co., Inc. (NYSE:MRK – Free Report) by 31.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,863 shares of the company’s stock after selling 14,260 shares during the period. Asio Capital LLC’s holdings in Merck & Co., Inc. were worth $3,284,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Retirement Financial Solutions LLC purchased a new position in Merck & Co., Inc. in the fourth quarter worth $26,000. Legend Financial Advisors Inc. purchased a new position in Merck & Co., Inc. in the third quarter worth $27,000. Tradewinds Capital Management LLC grew its position in Merck & Co., Inc. by 41.5% in the fourth quarter. Tradewinds Capital Management LLC now owns 317 shares of the company’s stock worth $35,000 after acquiring an additional 93 shares in the last quarter. Kepos Capital LP purchased a new position in Merck & Co., Inc. in the fourth quarter worth $36,000. Finally, Hanseatic Management Services Inc. purchased a new position in Merck & Co., Inc. in the fourth quarter worth $38,000. 76.60% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Merck & Co., Inc. news, VP Rita A. Karachun sold 15,875 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $117.53, for a total value of $1,865,788.75. Following the sale, the vice president now owns 45,710 shares in the company, valued at $5,372,296.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Merck & Co., Inc. news, VP Rita A. Karachun sold 15,875 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $117.53, for a total value of $1,865,788.75. Following the sale, the vice president now owns 45,710 shares in the company, valued at $5,372,296.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sanat Chattopadhyay sold 134,055 shares of the stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $115.07, for a total transaction of $15,425,708.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 488,258 shares of company stock worth $56,481,018. 0.20% of the stock is currently owned by company insiders.
Merck & Co., Inc. Price Performance
Merck & Co., Inc. (NYSE:MRK – Free Report) last announced its quarterly earnings data on Thursday, April 27th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $14.49 billion for the quarter, compared to analysts’ expectations of $13.81 billion. Merck & Co., Inc. had a net margin of 22.52% and a return on equity of 37.92%. The business’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.14 earnings per share. On average, sell-side analysts forecast that Merck & Co., Inc. will post 6.95 EPS for the current year.
Merck & Co., Inc. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Thursday, June 15th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Wednesday, June 14th. Merck & Co., Inc.’s dividend payout ratio (DPR) is presently 57.03%.
Wall Street Analyst Weigh In
MRK has been the subject of several research reports. Guggenheim upped their target price on shares of Merck & Co., Inc. from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. BTIG Research downgraded shares of Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research note on Sunday, April 16th. Citigroup raised shares of Merck & Co., Inc. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $130.00 in a research note on Thursday, April 13th. Wells Fargo & Company downgraded shares of Merck & Co., Inc. from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $120.00 to $115.00 in a research note on Monday, March 13th. Finally, Mizuho reissued a “buy” rating and issued a $130.00 price target on shares of Merck & Co., Inc. in a research note on Monday, April 10th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.83.
About Merck & Co., Inc.
Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.
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