Cidel Asset Management Inc. Boosts Holdings in Merck & Co., Inc. (NYSE:MRK)

Cidel Asset Management Inc. grew its position in shares of Merck & Co., Inc. (NYSE:MRK) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,314 shares of the company’s stock after purchasing an additional 785 shares during the period. Cidel Asset Management Inc.’s holdings in Merck & Co., Inc. were worth $1,126,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in shares of Merck & Co., Inc. during the third quarter worth about $32,000. AM Squared Ltd bought a new position in shares of Merck & Co., Inc. in the third quarter worth approximately $34,000. Safe Harbor Fiduciary LLC purchased a new stake in Merck & Co., Inc. in the third quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. bought a new stake in Merck & Co., Inc. during the third quarter valued at approximately $36,000. Institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Trading Down 0.9 %

MRK opened at $87.26 on Friday. Merck & Co., Inc. has a one year low of $87.12 and a one year high of $134.63. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.15. The business has a 50 day simple moving average of $99.01 and a two-hundred day simple moving average of $106.87. The firm has a market capitalization of $220.73 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.20 and a beta of 0.38.

Merck & Co., Inc. (NYSE:MRK) last announced its 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 for the quarter, compared to the consensus estimate of $15.51 billion. Merck & Co., Inc. had a net margin of 19.23% and a return on equity of 36.42%. Merck & Co., Inc.’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Analysts predict that Merck & Co., Inc. will post 7.62 EPS for the current year.

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

Merck & Co., Inc. Announces Dividend

The business also recently announced 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. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s payout ratio is 67.92%.

Insider Activity at Merck & Co., Inc.

In other Merck & Co., Inc. news, Director Inge G. Thulin bought 2,833 shares of Merck & Co., Inc. stock in a transaction dated 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 transaction, the director now directly owns 2,933 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Cristal N. Downing sold 2,361 shares of Merck & Co., Inc. stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $88.76, for a total transaction of $209,562.36. Following the transaction, the insider now directly owns 7,085 shares of the company’s stock, valued at approximately $628,864.60. This trade 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 owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRK. Bank of America lowered their price objective on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday. Hsbc Global Res upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. BMO Capital Markets cut their price objective on Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating for the company in a report on Wednesday. Truist Financial reissued a “hold” rating and set a $110.00 price objective (down from $130.00) on shares of Merck & Co., Inc. in a report on Wednesday, January 8th. Finally, Morgan Stanley cut their target price on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned 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, Merck & Co., Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $120.33.

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.