Zions Bancorporation N.A. Grows Stake in Merck & Co., Inc. (NYSE:MRK)

Zions Bancorporation N.A. raised its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,060 shares of the company’s stock after purchasing an additional 3,982 shares during the period. Zions Bancorporation N.A.’s holdings in Merck & Co., Inc. were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Merck & Co., Inc. by 29.7% during the 4th 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 last quarter. Wellington Management Group LLP increased its position in 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 valued at $8,608,914,000 after acquiring an additional 3,327,404 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Merck & Co., Inc. by 748.0% in the fourth quarter. Van ECK Associates Corp now owns 3,149,841 shares of the company’s stock valued at $313,346,000 after acquiring an additional 2,778,388 shares during the period. Two Sigma Advisers LP lifted its holdings 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 worth $484,231,000 after acquiring an additional 2,610,800 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Merck & Co., Inc. by 68.7% in 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 acquiring an additional 2,194,463 shares during the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRK. HSBC raised shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Wednesday, December 4th. Truist Financial reissued a “hold” rating and set a $110.00 price target (down from $130.00) on shares of Merck & Co., Inc. in a research note on Wednesday, January 8th. Morgan Stanley dropped their price objective on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Citigroup reduced their target price on Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Finally, TD Cowen lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their target price for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.12.

Merck & Co., Inc. Stock Down 4.8 %

Merck & Co., Inc. stock opened at $87.88 on Wednesday. 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 firm has a market cap of $221.99 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 0.35. The business has a fifty day moving average of $92.60 and a two-hundred day moving average of $100.57. Merck & Co., Inc. has a twelve month low of $81.04 and a twelve month high of $134.63.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $15.62 billion for the quarter, compared to the consensus estimate of $15.51 billion. During the same period in the previous year, the business earned $0.03 EPS. Merck & Co., Inc.’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s payout ratio is currently 48.14%.

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

Insider Buying and Selling

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

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.