Delta Financial Group Inc. Sells 1,795 Shares of Merck & Co., Inc. (NYSE:MRK)

Posted by Defense World Staff on Jul 11th, 2023

Delta Financial Group Inc. cut its stake in Merck & Co., Inc. (NYSE:MRK – Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,210 shares of the company’s stock after selling 1,795 shares during the period. Merck & Co., Inc. makes up approximately 1.3% of Delta Financial Group Inc.’s holdings, making the stock its 12th biggest position. Delta Financial Group Inc.’s holdings in Merck & Co., Inc. were worth $3,427,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Marion Wealth Management lifted its holdings in shares of Merck & Co., Inc. by 18.5% during the 4th quarter. Marion Wealth Management now owns 21,538 shares of the company’s stock worth $2,390,000 after acquiring an additional 3,366 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Merck & Co., Inc. by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,537,899 shares of the company’s stock worth $270,007,000 after acquiring an additional 47,005 shares during the period. Ascent Wealth Partners LLC lifted its holdings in shares of Merck & Co., Inc. by 3.1% during the 4th quarter. Ascent Wealth Partners LLC now owns 17,520 shares of the company’s stock worth $1,944,000 after acquiring an additional 533 shares during the period. Crescent Sterling Ltd. bought a new position in Merck & Co., Inc. during the 4th quarter valued at about $806,000. Finally, Alaska Wealth Advisors bought a new position in Merck & Co., Inc. during the 4th quarter valued at about $228,000. 76.60% of the stock is owned by institutional investors.

Merck & Co., Inc. Stock Up 0.9 %

Shares of NYSE:MRK opened at $109.97 on Tuesday. Merck & Co., Inc. has a one year low of $84.52 and a one year high of $119.65. The company has a 50 day moving average of $113.10 and a 200-day moving average of $110.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.44 and a quick ratio of 1.19. The stock has a market cap of $279.04 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.90 and a beta of 0.35.

Merck & Co., Inc. (NYSE:MRK – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Merck & Co., Inc. had a net margin of 22.52% and a return on equity of 37.92%. The company had revenue of $14.49 billion during the quarter, compared to analysts’ expectations of $13.81 billion. During the same quarter in the previous year, the company earned $2.14 EPS. Merck & Co., Inc.’s revenue was down 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Merck & Co., Inc. will post 6.95 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Thursday, June 15th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, June 14th. Merck & Co., Inc.’s dividend payout ratio is currently 57.03%.

Insider Activity at Merck & Co., Inc.

In related news, CEO Robert M. Davis sold 143,329 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $114.93, for a total transaction of $16,472,801.97. Following the completion of the transaction, the chief executive officer now owns 271,817 shares in the company, valued at $31,239,927.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Merck & Co., Inc. news, VP Rita A. Karachun sold 15,875 shares of Merck & Co., Inc. stock in a transaction that occurred on 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 transaction, the vice president now owns 45,710 shares of the company’s stock, valued at $5,372,296.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert M. Davis sold 143,329 shares of Merck & Co., Inc. stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $114.93, for a total transaction of $16,472,801.97. Following the completion of the transaction, the chief executive officer now directly owns 271,817 shares in the company, valued at approximately $31,239,927.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 488,258 shares of company stock worth $56,481,018. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MRK has been the subject of several analyst reports. Mizuho reissued a “buy” rating and set a $130.00 price target on shares of Merck & Co., Inc. in a report on Monday, April 10th. Guggenheim lifted their price target on shares of Merck & Co., Inc. from $123.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. BTIG Research downgraded shares of Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a report on Sunday, April 16th. Wells Fargo & Company downgraded shares of Merck & Co., Inc. from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $120.00 to $115.00 in a report on Monday, March 13th. Finally, Societe Generale downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Merck & Co., Inc. has an average rating of “Moderate Buy” and an average price target of $122.83.

About Merck & Co., Inc.

(Free Report)

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.