Cresset Asset Management LLC Reduces Position in Merck & Co., Inc. (NYSE:MRK)

Cresset Asset Management LLC reduced its position in shares of Merck & Co., Inc. (NYSE:MRK) by 52.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,050 shares of the company’s stock after selling 104,106 shares during the period. Cresset Asset Management LLC’s holdings in Merck & Co., Inc. were worth $10,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRK. Kepos Capital LP acquired a new position in shares of Merck & Co., Inc. during the 4th quarter worth about $36,000. Ruedi Wealth Management Inc. acquired a new position in Merck & Co., Inc. in the fourth quarter valued at approximately $39,000. Horizon Bancorp Inc. IN purchased a new position in Merck & Co., Inc. in the fourth quarter valued at approximately $49,000. Kalos Management Inc. acquired a new stake in Merck & Co., Inc. during the first quarter worth approximately $64,000. Finally, Financial Connections Group Inc. lifted its position in shares of Merck & Co., Inc. by 47.1% during the 4th quarter. Financial Connections Group Inc. now owns 718 shares of the company’s stock worth $79,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 74.59% of the company’s stock.

Merck & Co., Inc. Price Performance

Shares of NYSE:MRK traded up $0.92 on Friday, reaching $108.86. 2,220,905 shares of the company were exchanged, compared to its average volume of 7,673,112. The company has a 50-day moving average of $108.44 and a 200-day moving average of $110.38. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.88. The firm has a market cap of $276.23 billion, a price-to-earnings ratio of 88.44, a price-to-earnings-growth ratio of 4.20 and a beta of 0.33. Merck & Co., Inc. has a 1-year low of $84.52 and a 1-year high of $119.65.

Merck & Co., Inc. (NYSE:MRK) last issued its earnings results on Tuesday, August 1st. The company reported ($2.06) earnings per share for the quarter, topping the consensus estimate of ($2.18) by $0.12. Merck & Co., Inc. had a net margin of 5.34% and a return on equity of 16.29%. The company had revenue of $15.04 billion for the quarter, compared to analyst estimates of $14.44 billion. During the same period in the prior year, the business posted $1.87 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that Merck & Co., Inc. will post 3.03 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be given a dividend of $0.73 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.68%. Merck & Co., Inc.’s payout ratio is 239.34%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRK. Truist Financial increased their target price on shares of Merck & Co., Inc. from $116.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. HSBC started coverage on Merck & Co., Inc. in a research report on Friday, July 14th. They set a “hold” rating and a $123.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $135.00 target price on shares of Merck & Co., Inc. in a research report on Tuesday. BMO Capital Markets lifted their price target on Merck & Co., Inc. from $102.00 to $113.00 in a research report on Tuesday, July 18th. Finally, TheStreet downgraded Merck & Co., Inc. from an “a-” rating to a “c+” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.74.

Insider Buying and Selling at Merck & Co., Inc.

In other Merck & Co., Inc. news, EVP Steven Mizell sold 4,250 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $109.01, for a total transaction of $463,292.50. Following the completion of the transaction, the executive vice president now directly owns 22,935 shares in the company, valued at approximately $2,500,144.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Merck & Co., Inc. Company Profile

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.