Penbrook Management LLC Reduces Stock Position in Merck & Co., Inc. (NYSE:MRK)

Penbrook Management LLC trimmed its holdings in shares of Merck & Co., Inc. (NYSE:MRK) by 35.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,706 shares of the company’s stock after selling 1,500 shares during the quarter. Penbrook Management LLC’s holdings in Merck & Co., Inc. were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. First Affirmative Financial Network raised its stake in shares of Merck & Co., Inc. by 9.4% in the fourth quarter. First Affirmative Financial Network now owns 7,309 shares of the company’s stock valued at $727,000 after acquiring an additional 628 shares during the period. Synergy Asset Management LLC grew its holdings in Merck & Co., Inc. by 28.2% during the 4th quarter. Synergy Asset Management LLC now owns 196,461 shares of the company’s stock valued at $21,688,000 after purchasing an additional 43,245 shares during the last quarter. Baron Wealth Management LLC raised its position in Merck & Co., Inc. by 15.2% in the 4th quarter. Baron Wealth Management LLC now owns 2,314 shares of the company’s stock worth $230,000 after purchasing an additional 305 shares during the period. Highland Capital Management LLC lifted its stake in Merck & Co., Inc. by 7.5% in the fourth quarter. Highland Capital Management LLC now owns 304,216 shares of the company’s stock worth $30,263,000 after purchasing an additional 21,166 shares during the last quarter. Finally, Gries Financial LLC boosted its position in shares of Merck & Co., Inc. by 3.0% during the fourth quarter. Gries Financial LLC now owns 9,562 shares of the company’s stock valued at $951,000 after buying an additional 278 shares during the period. Institutional investors own 76.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America reiterated a “buy” rating and issued a $121.00 price target on shares of Merck & Co., Inc. in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 target price on shares of Merck & Co., Inc. in a research report on Thursday, October 3rd. Guggenheim cut their price target 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. Wolfe Research began coverage on shares of Merck & Co., Inc. in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Citigroup lowered their price objective on shares of Merck & Co., Inc. from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Merck & Co., Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $122.67.

Merck & Co., Inc. Stock Performance

Shares of Merck & Co., Inc. stock opened at $98.23 on Thursday. The company has a market capitalization of $248.47 billion, a PE ratio of 20.59, a P/E/G ratio of 1.13 and a beta of 0.39. The company has a 50-day simple moving average of $99.85 and a two-hundred day simple moving average of $108.13. Merck & Co., Inc. has a one year low of $94.48 and a one year high of $134.63. 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 announced its earnings results on Thursday, October 31st. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.07. The company had revenue of $16.66 billion for the quarter, compared to analyst estimates of $16.47 billion. Merck & Co., Inc. had a return on equity of 36.42% and a net margin of 19.23%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 EPS. Research analysts expect that Merck & Co., Inc. will post 7.67 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business 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 $0.81 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.30%. Merck & Co., Inc.’s dividend payout ratio is currently 67.92%.

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

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.