Cullinan Associates Inc. Cuts Stock Holdings in Merck & Co., Inc. (NYSE:MRK)

Cullinan Associates Inc. cut its position in shares of Merck & Co., Inc. (NYSE:MRK) by 3.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 44,878 shares of the company’s stock after selling 1,390 shares during the period. Cullinan Associates Inc.’s holdings in Merck & Co., Inc. were worth $4,464,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mountain Pacific Investment Advisers LLC boosted its position in Merck & Co., Inc. by 2.2% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 4,541 shares of the company’s stock valued at $516,000 after buying an additional 96 shares during the last quarter. Constitution Capital LLC increased its holdings in Merck & Co., Inc. by 2.1% in the third quarter. Constitution Capital LLC now owns 4,950 shares of the company’s stock valued at $562,000 after buying an additional 100 shares in the last quarter. E&G Advisors LP raised its position in shares of Merck & Co., Inc. by 0.7% in the third quarter. E&G Advisors LP now owns 14,698 shares of the company’s stock worth $1,669,000 after acquiring an additional 100 shares during the period. Massachusetts Wealth Management increased its stake in shares of Merck & Co., Inc. by 0.4% in the 3rd quarter. Massachusetts Wealth Management now owns 22,474 shares of the company’s stock valued at $2,552,000 after purchasing an additional 100 shares in the last quarter. Finally, Shayne & Jacobs LLC lifted its position in shares of Merck & Co., Inc. by 1.8% during the 3rd quarter. Shayne & Jacobs LLC now owns 5,611 shares of the company’s stock valued at $637,000 after buying an additional 100 shares in the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MRK shares. Barclays lowered their price target on Merck & Co., Inc. from $142.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. 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. Hsbc Global Res upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Bank of America reaffirmed a “buy” rating and set a $121.00 price objective on shares of Merck & Co., Inc. in a research report on Tuesday, December 10th. Finally, Citigroup lowered their price target on Merck & Co., Inc. from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.67.

Merck & Co., Inc. Stock Performance

NYSE:MRK opened at $99.79 on Tuesday. The firm’s fifty day simple moving average is $99.83 and its 200-day simple moving average is $107.54. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The stock has a market cap of $252.42 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.20 and a beta of 0.38. Merck & Co., Inc. has a fifty-two week low of $94.48 and a fifty-two week high of $134.63.

Merck & Co., Inc. announced that its board has approved a share buyback program on Tuesday, January 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Merck & Co., Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be given a dividend of $0.81 per share. The ex-dividend date is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.25%. Merck & Co., Inc.’s payout ratio is 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.