Te Ahumairangi Investment Management Ltd Decreases Stake in Merck & Co., Inc. (NYSE:MRK)

Te Ahumairangi Investment Management Ltd trimmed its holdings in Merck & Co., Inc. (NYSE:MRK) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 106,001 shares of the company’s stock after selling 5,056 shares during the quarter. Merck & Co., Inc. comprises about 2.2% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 10th biggest holding. Te Ahumairangi Investment Management Ltd’s holdings in Merck & Co., Inc. were worth $10,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in Merck & Co., Inc. by 12.9% in the third quarter. Franklin Resources Inc. now owns 16,049,161 shares of the company’s stock worth $1,759,800,000 after purchasing an additional 1,836,505 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Merck & Co., Inc. by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,902,509 shares of the company’s stock worth $189,262,000 after purchasing an additional 35,525 shares during the period. Napatree Capital LLC lifted its holdings in shares of Merck & Co., Inc. by 13.0% during the 4th quarter. Napatree Capital LLC now owns 4,220 shares of the company’s stock valued at $420,000 after purchasing an additional 485 shares in the last quarter. Littlejohn Financial Services Inc. acquired a new position in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $2,080,000. Finally, Nordea Investment Management AB increased its stake in Merck & Co., Inc. by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 9,399,643 shares of the company’s stock worth $933,761,000 after purchasing an additional 422,382 shares in the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.

Insiders Place Their Bets

In other Merck & Co., Inc. news, Director Inge G. Thulin acquired 2,833 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was purchased at an average price of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now directly owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. This trade represents a 2,833.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cristal N. Downing sold 2,361 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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. The trade was a 24.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $87.08 on Wednesday. The stock has a market cap of $219.95 billion, a PE ratio of 12.94, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.15 and a current ratio of 1.36. The firm has a 50-day moving average of $91.57 and a 200-day moving average of $99.62. Merck & Co., Inc. has a 52-week low of $81.04 and a 52-week high of $134.63.

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

Merck & Co., Inc. announced that its Board of Directors has initiated a share buyback program on Tuesday, January 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Merck & Co., Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 17th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is 48.14%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial reaffirmed a “hold” rating and issued a $110.00 price target (down previously from $130.00) on shares of Merck & Co., Inc. in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their target price for the stock from $128.00 to $105.00 in a report on Tuesday, February 18th. Guggenheim cut their price target on Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Hsbc Global Res upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group lowered their price objective on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.12.

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.