Pzena Investment Management LLC Acquires New Shares in Merck & Co., Inc. (NYSE:MRK)

Pzena Investment Management LLC bought a new position in shares of Merck & Co., Inc. (NYSE:MRK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,898 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Merck & Co., Inc. by 29.7% during the fourth quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock valued at $2,408,763,000 after purchasing an additional 5,550,824 shares during the period. Wellington Management Group LLP boosted its position in shares of Merck & Co., Inc. by 4.6% during the third quarter. Wellington Management Group LLP now owns 75,809,383 shares of the company’s stock worth $8,608,914,000 after purchasing an additional 3,327,404 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Merck & Co., Inc. by 748.0% in the 4th quarter. Van ECK Associates Corp now owns 3,149,841 shares of the company’s stock valued at $313,346,000 after buying an additional 2,778,388 shares during the period. Two Sigma Advisers LP increased its position in shares of Merck & Co., Inc. by 157.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,264,100 shares of the company’s stock valued at $484,231,000 after buying an additional 2,610,800 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Merck & Co., Inc. by 68.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,388,551 shares of the company’s stock worth $611,924,000 after buying an additional 2,194,463 shares during the period. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MRK has been the subject of a number of research analyst reports. Truist Financial reissued a “hold” rating and issued a $110.00 target price (down from $130.00) on shares of Merck & Co., Inc. in a research note on Wednesday, January 8th. Bank of America lowered their target price on Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Guggenheim cut their price objective on shares of Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Citigroup lowered their target price on Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Hsbc Global Res upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.12.

Insiders Place Their Bets

In related news, Director Inge G. Thulin purchased 2,833 shares of the stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now directly owns 2,933 shares in the company, valued at $258,837.25. The trade was a 2,833.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Cristal N. Downing sold 2,361 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $88.76, for a total value of $209,562.36. Following the sale, the insider now owns 7,085 shares of the company’s stock, valued at approximately $628,864.60. This represents 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 Down 0.6 %

Shares of MRK stock opened at $94.65 on Wednesday. Merck & Co., Inc. has a 52-week low of $81.04 and a 52-week high of $134.63. The stock has a market cap of $239.09 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.77 and a beta of 0.35. The firm’s 50-day moving average is $93.87 and its 200-day moving average is $102.25. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.15 and a current ratio of 1.36.

Merck & Co., Inc. (NYSE:MRK) last released 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 net margin of 26.67% and a return on equity of 45.35%. The business had revenue of $15.62 billion during the quarter, compared to the consensus estimate of $15.51 billion. During the same quarter in the prior year, the company earned $0.03 EPS. Merck & Co., Inc.’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders 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 yield of 3.42%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is 48.14%.

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

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.