Concord Asset Management LLC VA Sells 23,232 Shares of Merck & Co., Inc. (NYSE:MRK)

Concord Asset Management LLC VA decreased its stake in Merck & Co., Inc. (NYSE:MRK) by 52.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,483 shares of the company’s stock after selling 23,232 shares during the period. Concord Asset Management LLC VA’s holdings in Merck & Co., Inc. were worth $2,137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRK. Darwin Wealth Management LLC bought a new stake in Merck & Co., Inc. in the 3rd quarter valued at about $32,000. AM Squared Ltd bought a new stake in shares of Merck & Co., Inc. in the third quarter valued at approximately $34,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Merck & Co., Inc. during the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. purchased a new stake in shares of Merck & Co., Inc. during the 3rd quarter valued at approximately $36,000. Finally, Quarry LP bought a new position in Merck & Co., Inc. in the 2nd quarter worth approximately $42,000. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial restated a “hold” rating and set a $110.00 target price (down previously from $130.00) on shares of Merck & Co., Inc. in a research report on Wednesday, January 8th. Daiwa Capital Markets downgraded Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. HSBC upgraded Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Wednesday, December 4th. UBS Group cut their price objective on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Guggenheim decreased their target price on shares of Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.67.

Merck & Co., Inc. Price Performance

Shares of Merck & Co., Inc. stock opened at $98.80 on Friday. The firm has a market capitalization of $249.93 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.39. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. Merck & Co., Inc. has a 12 month low of $94.48 and a 12 month high of $134.63. The business’s 50-day moving average price is $99.83 and its 200-day moving average price is $107.79.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.07. The business had revenue of $16.66 billion for the quarter, compared to analysts’ expectations of $16.47 billion. Merck & Co., Inc. had a net margin of 19.23% and a return on equity of 36.42%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $2.13 earnings per share. Sell-side analysts forecast that Merck & Co., Inc. will post 7.64 EPS for the current fiscal year.

Merck & Co., Inc. announced that its board has initiated a stock repurchase plan on Tuesday, January 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Merck & Co., Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors 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 3.28%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is currently 67.92%.

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.