Sonora Investment Management Group LLC Raises Stake in Merck & Co., Inc. (NYSE:MRK)

Sonora Investment Management Group LLC boosted its holdings in Merck & Co., Inc. (NYSE:MRK) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 174,710 shares of the company’s stock after purchasing an additional 3,182 shares during the quarter. Merck & Co., Inc. accounts for approximately 1.3% of Sonora Investment Management Group LLC’s investment portfolio, making the stock its 22nd largest holding. Sonora Investment Management Group LLC’s holdings in Merck & Co., Inc. were worth $17,380,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in Merck & Co., Inc. in the third quarter valued at approximately $32,000. AM Squared Ltd purchased a new position in shares of Merck & Co., Inc. in the third quarter valued at $34,000. Safe Harbor Fiduciary LLC acquired a new stake in Merck & Co., Inc. during the 3rd quarter valued at $34,000. Peterson Financial Group Inc. acquired a new stake in Merck & Co., Inc. during the 3rd quarter valued at $36,000. Finally, Quarry LP purchased a new stake in Merck & Co., Inc. during the 2nd quarter worth $42,000. 76.07% of the stock is owned by institutional investors and hedge funds.

Merck & Co., Inc. Stock Performance

Shares of NYSE MRK opened at $98.91 on Friday. Merck & Co., Inc. has a 12-month low of $94.48 and a 12-month high of $134.63. The company has a market cap of $250.21 billion, a PE ratio of 20.74, a P/E/G ratio of 1.18 and a beta of 0.39. The stock has a 50 day simple moving average of $99.86 and a 200-day simple moving average of $108.06. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.07. Merck & Co., Inc. had a return on equity of 36.42% and a net margin of 19.23%. The company had revenue of $16.66 billion during the quarter, compared to analysts’ expectations of $16.47 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Merck & Co., Inc. will post 7.64 EPS for the current year.

Merck & Co., Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be given a $0.81 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a yield of 3.28%. Merck & Co., Inc.’s dividend payout ratio is presently 67.92%.

Merck & Co., Inc. announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MRK shares. Morgan Stanley decreased their price objective on shares of Merck & Co., Inc. from $123.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Truist Financial restated 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. Bank of America reaffirmed a “buy” rating and issued a $121.00 target price on shares of Merck & Co., Inc. in a research report on Tuesday, December 10th. HSBC upgraded shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Wednesday, December 4th. Finally, Citigroup lowered their price objective on Merck & Co., Inc. from $130.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.67.

Merck & Co., Inc. Profile

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.