Merck & Co., Inc. (NYSE:MRK) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its holdings in Merck & Co., Inc. (NYSE:MRK) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,225,418 shares of the company’s stock after purchasing an additional 18,811 shares during the quarter. Merck & Co., Inc. makes up about 0.5% of Treasurer of the State of North Carolina’s investment portfolio, making the stock its 28th largest holding. Treasurer of the State of North Carolina’s holdings in Merck & Co., Inc. were worth $121,905,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

MRK has been the subject of a number of research analyst reports. UBS Group cut their price target on Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Bank of America decreased their target price on Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Morgan Stanley cut their target price on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Truist Financial restated a “hold” rating and issued a $110.00 price target (down from $130.00) on shares of Merck & Co., Inc. in a report on Wednesday, January 8th. Finally, BMO Capital Markets decreased 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, February 5th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Activity

In related news, insider Cristal N. Downing sold 2,361 shares of the business’s stock in a transaction 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 sale, the insider now owns 7,085 shares in the company, valued at $628,864.60. The trade was a 24.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Inge G. Thulin acquired 2,833 shares of Merck & Co., Inc. stock in a transaction that occurred on Thursday, February 6th. The shares were purchased at an average price of $88.25 per share, for a total transaction of $250,012.25. Following the transaction, the director now directly owns 2,933 shares in the company, valued at $258,837.25. The trade was a 2,833.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Merck & Co., Inc. Stock Performance

NYSE:MRK opened at $81.82 on Thursday. The stock has a market cap of $206.67 billion, a P/E ratio of 12.16, a PEG ratio of 0.77 and a beta of 0.40. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. The stock has a 50 day simple moving average of $89.12 and a 200 day simple moving average of $97.90. Merck & Co., Inc. has a 1-year low of $76.00 and a 1-year high of $134.63.

Merck & Co., Inc. (NYSE:MRK) last announced its quarterly earnings data 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). The company had revenue of $15.62 billion during the quarter, compared to analyst estimates of $15.51 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. Merck & Co., Inc.’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. Research analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 17th were paid a $0.81 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.24 annualized dividend and a dividend yield of 3.96%. Merck & Co., Inc.’s payout ratio is 48.14%.

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