Figure 8 Investment Strategies LLC Takes $1.24 Million Position in Merck & Co., Inc. (NYSE:MRK)

Figure 8 Investment Strategies LLC purchased a new position in Merck & Co., Inc. (NYSE:MRK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,492 shares of the company’s stock, valued at approximately $1,243,000.

A number of other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC boosted its holdings in shares of Merck & Co., Inc. by 18.2% in the 4th quarter. Bogart Wealth LLC now owns 70,256 shares of the company’s stock worth $6,989,000 after purchasing an additional 10,821 shares during the period. Asset Management One Co. Ltd. grew its position in Merck & Co., Inc. by 0.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,270,065 shares of the company’s stock valued at $126,622,000 after acquiring an additional 6,779 shares during the last quarter. Buckhead Capital Management LLC increased its stake in Merck & Co., Inc. by 12.9% in the fourth quarter. Buckhead Capital Management LLC now owns 3,072 shares of the company’s stock worth $306,000 after purchasing an additional 350 shares during the period. Aries Wealth Management lifted its position in shares of Merck & Co., Inc. by 2.9% during the fourth quarter. Aries Wealth Management now owns 26,834 shares of the company’s stock worth $2,669,000 after purchasing an additional 754 shares during the last quarter. Finally, Intelligence Driven Advisers LLC boosted its stake in shares of Merck & Co., Inc. by 11.5% during the fourth quarter. Intelligence Driven Advisers LLC now owns 13,058 shares of the company’s stock valued at $1,299,000 after purchasing an additional 1,343 shares during the period. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

MRK has been the topic of a number of research analyst reports. Guggenheim dropped their target price on shares of Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday. Daiwa Capital Markets cut Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Leerink Partners reduced their price objective on Merck & Co., Inc. from $136.00 to $119.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Truist Financial reiterated a “hold” rating and issued a $110.00 target price (down from $130.00) on shares of Merck & Co., Inc. in a report on Wednesday, January 8th. Finally, BMO Capital Markets cut their price target on 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.06.

Merck & Co., Inc. Stock Performance

Shares of MRK opened at $84.35 on Friday. 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 cap of $213.37 billion, a PE ratio of 12.53, a P/E/G ratio of 0.83 and a beta of 0.38. Merck & Co., Inc. has a 12 month low of $84.31 and a 12 month high of $134.63. The stock has a fifty day moving average price of $97.82 and a 200-day moving average price of $105.65.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.13). The business had revenue of $15.62 billion during the quarter, compared to analysts’ expectations of $15.51 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Equities research analysts predict that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

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

Merck & Co., Inc. Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.84%. Merck & Co., Inc.’s payout ratio is currently 48.14%.

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.