Merck & Co., Inc. (NYSE:MRK) Shares Acquired by Maryland State Retirement & Pension System

03 Jan 2024, 18:19 by Sarita Garza · The Markets Daily

Maryland State Retirement & Pension System lifted its stake in shares of Merck & Co., Inc. (NYSE:MRK – Free Report) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,654 shares of the company’s stock after buying an additional 1,497 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Merck & Co., Inc. were worth $20,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Marquette Asset Management LLC acquired a new stake in shares of Merck & Co., Inc. during the second quarter worth approximately $26,000. Your Advocates Ltd. LLP acquired a new stake in shares of Merck & Co., Inc. during the second quarter worth approximately $28,000. Financial Gravity Asset Management Inc. grew its position in shares of Merck & Co., Inc. by 163.1% during the first quarter. Financial Gravity Asset Management Inc. now owns 292 shares of the company’s stock worth $2,718,000 after buying an additional 181 shares in the last quarter. Level Financial Advisors Inc. grew its position in shares of Merck & Co., Inc. by 45.5% during the second quarter. Level Financial Advisors Inc. now owns 320 shares of the company’s stock worth $37,000 after buying an additional 100 shares in the last quarter. Finally, Activest Wealth Management acquired a new stake in shares of Merck & Co., Inc. during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 74.59% of the company’s stock.

Merck & Co., Inc. Price Performance

Shares of NYSE MRK opened at $113.26 on Wednesday. Merck & Co., Inc. has a fifty-two week low of $96.36 and a fifty-two week high of $119.65. The firm’s 50-day simple moving average is $104.38 and its 200 day simple moving average is $106.43. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.82. The stock has a market cap of $287.00 billion, a P/E ratio of 62.92, a P/E/G ratio of 1.48 and a beta of 0.35.

Merck & Co., Inc. (NYSE:MRK – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.19. Merck & Co., Inc. had a net margin of 7.77% and a return on equity of 18.26%. The business had revenue of $16 billion for the quarter, compared to analysts’ expectations of $15.30 billion. During the same period in the previous year, the business earned $1.85 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Merck & Co., Inc. will post 1.37 EPS for the current year.

Merck & Co., Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 15th will be paid a dividend of $0.77 per share. This is a boost from Merck & Co., Inc.’s previous quarterly dividend of $0.73. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Thursday, December 14th. Merck & Co., Inc.’s payout ratio is currently 171.11%.

Insiders Place Their Bets

In other Merck & Co., Inc. news, insider Johannes Jacobus Oosthuizen sold 2,081 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $102.38, for a total value of $213,052.78. Following the sale, the insider now directly owns 18,191 shares in the company, valued at $1,862,394.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Merck & Co., Inc. news, insider Johannes Jacobus Oosthuizen sold 2,081 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $102.38, for a total value of $213,052.78. Following the sale, the insider now directly owns 18,191 shares in the company, valued at $1,862,394.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard R. Deluca sold 43,823 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $105.03, for a total transaction of $4,602,729.69. Following the completion of the sale, the executive vice president now owns 111,764 shares in the company, valued at $11,738,572.92. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Merck & Co., Inc. in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Merck & Co., Inc. in a report on Thursday, November 9th. They issued a “buy” rating and a $115.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Merck & Co., Inc. from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. TheStreet raised shares of Merck & Co., Inc. from a “c+” rating to a “b” rating in a report on Monday, November 27th. Finally, StockNews.com initiated coverage on shares of Merck & Co., Inc. in a report on Thursday, October 5th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Merck & Co., Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

View Our Latest Research Report on MRK

Merck & Co., Inc. Company Profile

(Free Report)

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.