NewEdge Wealth LLC cut its stake in Merck & Co., Inc. (NYSE:MRK – Free Report) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,602 shares of the company’s stock after selling 21,995 shares during the quarter. NewEdge Wealth LLC’s holdings in Merck & Co., Inc. were worth $8,012,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingdom Financial Group LLC. purchased a new position in shares of Merck & Co., Inc. during the 4th quarter worth about $25,000. Prosperity Bancshares Inc bought a new position in Merck & Co., Inc. during the 4th quarter valued at about $26,000. Abound Financial LLC purchased a new stake in Merck & Co., Inc. in the 4th quarter worth about $26,000. IFC & Insurance Marketing Inc. purchased a new stake in Merck & Co., Inc. in the 4th quarter worth about $31,000. Finally, High Note Wealth LLC lifted its stake in Merck & Co., Inc. by 58.9% in the fourth quarter. High Note Wealth LLC now owns 294 shares of the company’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.
Merck & Co., Inc. Price Performance
Merck & Co., Inc. stock opened at $130.57 on Friday. The stock has a market cap of $322.49 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 5.08 and a beta of 0.19. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.30 and a quick ratio of 1.06. Merck & Co., Inc. has a 1 year low of $76.66 and a 1 year high of $131.74. The firm has a 50-day moving average of $121.27 and a two-hundred day moving average of $117.62.
Merck & Co., Inc. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 15th were paid a $0.85 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.40 annualized dividend and a yield of 2.6%. Merck & Co., Inc.’s dividend payout ratio is 95.77%.
Analysts Set New Price Targets
Several research analysts have issued reports on MRK shares. Guggenheim boosted their target price on Merck & Co., Inc. from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings downgraded Merck & Co., Inc. from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $142.00 price target on shares of Merck & Co., Inc. in a research note on Wednesday, July 8th. BMO Capital Markets boosted their price objective on Merck & Co., Inc. from $135.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Merck & Co., Inc. in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.94.
View Our Latest Analysis on Merck & Co., Inc.
About Merck & Co., Inc.
Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.
Founded in the late 19th century as the U.S.
See Also
- Five stocks we like better than Merck & Co., Inc.
- Premium Retail’s Stress Test Is Separating Winners From Losers
- D-Wave Quantum or a Quantum ETF: Which Is the Better Bet?
- GE Vernova Just Sent a Mixed AI Signal to Investors
- Alphabet Crushed Earnings, But One Number Spooked the Market
Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merck & Co., Inc. (NYSE:MRK – Free Report).
Receive News & Ratings for Merck & Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merck & Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
