Cascades Capital Asset Management LLC Cuts Stock Position in Merck & Co., Inc. (NYSE:MRK)

Cascades Capital Asset Management LLC reduced its holdings in shares of Merck & Co., Inc. (NYSE:MRK) by 58.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,835 shares of the company’s stock after selling 5,287 shares during the period. Cascades Capital Asset Management LLC’s holdings in Merck & Co., Inc. were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC acquired a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at about $26,000. Financial Life Planners acquired a new position in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $28,000. Noble Wealth Management PBC acquired a new stake in shares of Merck & Co., Inc. in the fourth quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Merck & Co., Inc. in the 4th quarter valued at $28,000. Finally, Promus Capital LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter worth $30,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

Insider Activity at Merck & Co., Inc.

In other Merck & Co., Inc. news, Director Inge G. Thulin purchased 2,833 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was bought at an average cost of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now directly owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. This represents a 2,833.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cristal N. Downing sold 2,361 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was 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 of the company’s stock, valued at approximately $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.

Merck & Co., Inc. Stock Down 5.7 %

Shares of MRK opened at $81.48 on Friday. The company’s 50-day simple moving average is $90.90 and its 200-day simple moving average is $99.18. 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. has a 1 year low of $81.04 and a 1 year high of $134.63. The stock has a market capitalization of $205.83 billion, a PE ratio of 12.11, a P/E/G ratio of 0.77 and a beta of 0.40.

Merck & Co., Inc. (NYSE:MRK) last announced its earnings results on Tuesday, February 4th. The company reported $1.72 earnings per share 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 business had revenue of $15.62 billion for the quarter, compared to analysts’ expectations of $15.51 billion. During the same period in the previous year, the company earned $0.03 earnings per share. Merck & Co., Inc.’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

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

Merck & Co., Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s payout ratio is currently 48.14%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial reaffirmed a “hold” rating and set a $110.00 price objective (down previously from $130.00) on shares of Merck & Co., Inc. in a research note on Wednesday, January 8th. BMO Capital Markets cut their target price on Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Bank of America dropped their price objective on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price target for the company from $128.00 to $105.00 in a research note on Tuesday, February 18th. Finally, Citigroup lowered their price objective on Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating for the company in a research report 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.12.

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.