Corebridge Financial Inc. Sells 35,685 Shares of Merck & Co., Inc. (NYSE:MRK)

Corebridge Financial Inc. trimmed its position in shares of Merck & Co., Inc. (NYSE:MRK) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 581,389 shares of the company’s stock after selling 35,685 shares during the quarter. Corebridge Financial Inc.’s holdings in Merck & Co., Inc. were worth $57,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $26,000. Financial Life Planners bought a new position in shares of Merck & Co., Inc. during the 4th quarter worth approximately $28,000. Noble Wealth Management PBC bought a new position in shares of Merck & Co., Inc. during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Merck & Co., Inc. in the 4th quarter worth approximately $28,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Merck & Co., Inc. in the third quarter valued at approximately $34,000. Institutional investors own 76.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MRK shares. TD Cowen lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $121.00 to $100.00 in a report on Monday, February 10th. UBS Group lowered their target price on Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley reduced their price target on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $128.00 to $105.00 in a research report on Tuesday, February 18th. Finally, Bank of America dropped their target price on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.12.

Merck & Co., Inc. Trading Down 1.4 %

Shares of Merck & Co., Inc. stock opened at $93.44 on Monday. The company’s 50-day moving average price is $93.00 and its 200-day moving average price is $100.97. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. Merck & Co., Inc. has a 12-month low of $81.04 and a 12-month high of $134.63. The company has a market cap of $236.03 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.77 and a beta of 0.35.

Merck & Co., Inc. (NYSE:MRK) last posted its earnings results on Tuesday, February 4th. The company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.13). Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The firm had revenue of $15.62 billion during the quarter, compared to analysts’ expectations of $15.51 billion. During the same quarter in the prior year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is 48.14%.

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

Insider Buying and Selling

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

Merck & Co., Inc. 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.