Modern Wealth Management LLC Purchases 3,623 Shares of Merck & Co., Inc. (NYSE:MRK)

Modern Wealth Management LLC boosted its position in Merck & Co., Inc. (NYSE:MRK) by 44.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,858 shares of the company’s stock after purchasing an additional 3,623 shares during the period. Modern Wealth Management LLC’s holdings in Merck & Co., Inc. were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Midwest Capital Advisors LLC purchased a new position in Merck & Co., Inc. during the 4th quarter valued at $26,000. Financial Life Planners purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at $28,000. Noble Wealth Management PBC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Merck & Co., Inc. in the fourth quarter worth about $28,000. Finally, Promus Capital LLC purchased a new position in Merck & Co., Inc. in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Trading Up 0.2 %

NYSE:MRK opened at $88.06 on Thursday. The stock has a market capitalization of $222.44 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.77 and a beta of 0.35. Merck & Co., Inc. has a 52 week low of $81.04 and a 52 week high of $134.63. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average of $92.35 and a 200 day moving average of $100.48.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.13). Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The business had revenue of $15.62 billion for the quarter, compared to analysts’ expectations of $15.51 billion. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Merck & Co., Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.68%. Merck & Co., Inc.’s payout ratio is 48.14%.

Insider Activity

In other Merck & Co., Inc. news, insider Cristal N. Downing sold 2,361 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $88.76, for a total transaction of $209,562.36. Following the transaction, the insider now owns 7,085 shares in the company, valued at approximately $628,864.60. This represents a 24.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Inge G. Thulin purchased 2,833 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was bought at an average cost of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. The trade was a 2,833.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MRK. BMO Capital Markets dropped their target price on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. HSBC raised Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Wednesday, December 4th. Morgan Stanley decreased their target price on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Truist Financial reissued a “hold” rating and set a $110.00 price target (down previously from $130.00) on shares of Merck & Co., Inc. in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $128.00 to $105.00 in a report on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.12.

About Merck & Co., Inc.

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.