Corundum Group Inc. Acquires 1,002 Shares of Merck & Co., Inc. (NYSE:MRK)

Corundum Group Inc. raised its holdings in Merck & Co., Inc. (NYSE:MRK) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,656 shares of the company’s stock after buying an additional 1,002 shares during the period. Corundum Group Inc.’s holdings in Merck & Co., Inc. were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new position in Merck & Co., Inc. in the 3rd quarter valued at about $32,000. AM Squared Ltd bought a new position in shares of Merck & Co., Inc. in the third quarter valued at approximately $34,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Merck & Co., Inc. during the third quarter valued at approximately $34,000. Peterson Financial Group Inc. bought a new stake in Merck & Co., Inc. during the third quarter worth $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Merck & Co., Inc. in the 2nd quarter valued at $39,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Merck & Co., Inc. Price Performance

MRK stock opened at $98.00 on Tuesday. The firm has a 50 day moving average of $100.01 and a 200-day moving average of $109.61. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $247.91 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.17 and a beta of 0.39. Merck & Co., Inc. has a 12 month low of $94.48 and a 12 month high of $134.63.

Merck & Co., Inc. (NYSE:MRK) last announced its earnings results on Thursday, October 31st. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. Merck & Co., Inc. had a return on equity of 36.42% and a net margin of 19.23%. The business had revenue of $16.66 billion for the quarter, compared to analyst estimates of $16.47 billion. During the same period in the prior year, the company earned $2.13 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that Merck & Co., Inc. will post 7.7 earnings per share for the current fiscal year.

Merck & Co., Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were issued a dividend of $0.81 per share. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, December 16th. Merck & Co., Inc.’s payout ratio is currently 67.92%.

Analyst Ratings Changes

MRK has been the topic of a number of analyst reports. Hsbc Global Res raised shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of Merck & Co., Inc. from $130.00 to $123.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Bank of America restated a “buy” rating and issued a $121.00 target price on shares of Merck & Co., Inc. in a research note on Tuesday, December 10th. Guggenheim decreased their price target on Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial reissued a “hold” rating and issued a $110.00 price objective (down previously from $130.00) on shares of Merck & Co., Inc. in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.67.

Merck & Co., Inc. Company 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.