Princeton Global Asset Management Adjusts Merck & Co., Inc. Holdings

Princeton Global Asset Management LLC has reduced its position in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 45.1% during the fourth quarter, as revealed in their latest filing with the SEC. After selling 11,095 shares during the quarter, the fund now holds a total of 13,487 shares of the company, valued at approximately $1,342,000.

Alongside Princeton Global, several other institutional investors have also made adjustments to their holdings in Merck & Co., Inc. For instance, JB Capital LLC increased its stake by 5.8% during the same period, bringing their total to 100,895 shares worth about $10,037,000 after buying 5,555 additional shares. Similarly, Chicago Capital LLC raised its holdings by 0.6%, acquiring an extra 161 shares to own 25,308 shares valued at $2,518,000.

Moreover, Lynch Asset Management Inc. boosted its position in Merck by 17.6%, adding 1,200 shares to own a total of 8,000 shares worth $796,000. HHM Wealth Advisors LLC significantly increased its stake by 52.7%, owning 6,448 shares post-acquisition of 2,226 shares valued at $641,000. McAdam LLC also raised its position by 4.0%, with 18,664 shares worth $1,857,000 after purchasing 713 shares.

Overall, institutional investors hold approximately 76.07% of Merck & Co., Inc.'s stock.

Stock Performance of Merck & Co., Inc.

The stock of Merck & Co., Inc. opened at $98.80 recently. Over the past year, it reached a low of $94.48 and a high of $134.63. Its 50-day moving average stands at $99.83, while the 200-day moving average is at $107.67. The company's market capitalization is $249.93 billion, with a price-to-earnings (P/E) ratio of 20.71 and a P/E to growth (P/E/G) ratio of 1.20. Additionally, it has a beta of 0.38, a quick ratio of 1.15, a current ratio of 1.36, and a debt-to-equity ratio of 0.79.

Latest Earnings Report

Merck & Co., Inc. last reported its quarterly earnings on October 31st. The company announced earnings of $1.57 per share, surpassing analysts' predictions of $1.50 by $0.07. In this quarter, the firm generated revenue of $16.66 billion, exceeding the consensus estimate of $16.47 billion. Year-over-year, the business's revenue increased by 4.4%, although earnings per share dropped from $2.13 in the same quarter the previous year. Analysts forecast Merck & Co., Inc. to achieve an EPS of 7.62 for the current year.

Furthermore, merely a few days earlier, the Merck board approved a significant share repurchase program, allowing the company to buy back $10.00 billion worth of its own shares, amounting to around 4.1% of its outstanding shares. Such repurchase initiatives generally indicate that management believes the stock is undervalued.

Dividend Announcement

In addition, Merck & Co., Inc. has declared a quarterly dividend to be paid on April 7th. Shareholders registered by March 17th will receive a dividend of $0.81 per share, culminating in an annualized dividend of $3.24, providing a yield of 3.28%. The ex-dividend date is also set for March 17th, with the company's payout ratio currently at 67.92%.

Analyst Opinions

Recent evaluations by market analysts regarding MRK shares have varied. Wells Fargo & Company has reduced its price target from $125.00 to $110.00, maintaining an "equal weight" rating on the company's shares. Conversely, HSBC upgraded its rating from "hold" to "buy" with a price target of $130.00. UBS Group also lowered its price objective from $125.00 to $120.00, retaining a "buy" rating. Meanwhile, Morgan Stanley cut its target price from $123.00 to $113.00, keeping an "equal weight" rating. BMO Capital Markets took a different approach by downgrading Merck from "outperform" to "market perform," adjusting their target price from $136.00 to $105.00. Currently, one analyst has rated the stock as a sell, eight suggest holding, nine recommend buying, and three suggest strong buy. The company's average rating stands at "Moderate Buy" with a target price of $122.67.

Overview of Merck & Co., Inc.

Merck & Co., Inc. is a prominent healthcare company engaged in providing various health solutions, including prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. The company operates through specialized segments, focusing on Pharmaceuticals, Animal Health, and others, with the Pharmaceutical segment directing its attention primarily on human health pharmaceutical and vaccine products.

investment, stock, management