Renasant Bank Cuts Stock Holdings in Merck & Co., Inc. (NYSE:MRK)

Renasant Bank cut its position in shares of Merck & Co., Inc. (NYSE:MRK) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,513 shares of the company’s stock after selling 381 shares during the quarter. Renasant Bank’s holdings in Merck & Co., Inc. were worth $449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Merck & Co., Inc. by 1.3% during the 3rd quarter. State Street Corp now owns 119,026,412 shares of the company’s stock valued at $13,606,360,000 after acquiring an additional 1,536,474 shares during the period. Wellington Management Group LLP lifted its position in shares of Merck & Co., Inc. by 4.6% during the 3rd quarter. Wellington Management Group LLP now owns 75,809,383 shares of the company’s stock valued at $8,608,914,000 after buying an additional 3,327,404 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Merck & Co., Inc. by 3.7% during the third quarter. Geode Capital Management LLC now owns 59,155,004 shares of the company’s stock valued at $6,696,060,000 after purchasing an additional 2,134,296 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Merck & Co., Inc. by 29.7% in the fourth quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock valued at $2,408,763,000 after purchasing an additional 5,550,824 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Merck & Co., Inc. by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,125,171 shares of the company’s stock valued at $2,002,052,000 after purchasing an additional 1,317,878 shares during the period. Institutional investors and hedge funds own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Up 1.4 %

Shares of NYSE MRK opened at $94.64 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $93.66 and its two-hundred day moving average is $102.14. Merck & Co., Inc. has a 52-week low of $81.04 and a 52-week high of $134.63. The firm has a market cap of $239.07 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.77 and a beta of 0.35.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.13). Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The firm had revenue of $15.62 billion during the quarter, compared to analysts’ expectations of $15.51 billion. During the same quarter in the prior year, the firm posted $0.03 EPS. Merck & Co., Inc.’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. Dividend Announcement

The firm 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 3.42%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s payout ratio is 48.14%.

Merck & Co., Inc. declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MRK. Morgan Stanley lowered their price target 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. Deutsche Bank Aktiengesellschaft downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $128.00 to $105.00 in a research note on Tuesday, February 18th. 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. UBS Group decreased their target price on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, TD Securities lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price target for the company from $121.00 to $100.00 in a research report on Monday, February 10th. Eleven investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.12.

Insider Activity at Merck & Co., Inc.

In related news, Director Inge G. Thulin bought 2,833 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $88.25 per share, for a total transaction of $250,012.25. Following the completion of the acquisition, the director now owns 2,933 shares in the company, valued at approximately $258,837.25. This trade represents a 2,833.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cristal N. Downing sold 2,361 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.