Beach Investment Counsel Inc. PA Trims Stake in Merck & Co., Inc. (NYSE:MRK)

Beach Investment Counsel Inc. PA reduced its position in Merck & Co., Inc. (NYSE:MRK) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,475 shares of the company’s stock after selling 6,198 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Merck & Co., Inc. were worth $3,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC bought a new position in Merck & Co., Inc. during the third quarter valued at $32,000. Financial Life Planners purchased a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at $28,000. AM Squared Ltd purchased a new stake in shares of Merck & Co., Inc. in the third quarter valued at $34,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Merck & Co., Inc. in the third quarter valued at $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Merck & Co., Inc. in the third quarter valued at $36,000. 76.07% of the stock is currently owned by institutional investors.

Merck & Co., Inc. Stock Performance

MRK opened at $88.19 on Tuesday. Merck & Co., Inc. has a 12-month low of $87.33 and a 12-month high of $134.63. 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 $223.09 billion, a PE ratio of 18.58, a P/E/G ratio of 1.20 and a beta of 0.38. The firm has a 50 day moving average of $99.83 and a two-hundred day moving average of $107.54.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.13). Merck & Co., Inc. had a return on equity of 36.42% and a net margin of 19.23%. On average, analysts anticipate that Merck & Co., Inc. will post 7.62 EPS for the current year.

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

Merck & Co., Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio (DPR) is 67.92%.

Analyst Ratings Changes

Several research analysts recently commented on MRK shares. Guggenheim reduced their price target on shares of Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup reduced their price target on shares of Merck & Co., Inc. from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. BMO Capital Markets downgraded shares of Merck & Co., Inc. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $136.00 to $105.00 in a research report on Friday, December 20th. Bank of America reissued a “buy” rating and set a $121.00 target price on shares of Merck & Co., Inc. in a research report on Tuesday, December 10th. Finally, Sanford C. Bernstein began coverage on shares of Merck & Co., Inc. in a report on Thursday, October 17th. They issued a “market perform” rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Merck & Co., Inc. currently has an average rating of “Moderate Buy” and an average price target of $122.67.

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.