Concord Wealth Partners Sells 21,488 Shares of Merck & Co., Inc. (NYSE:MRK)

Concord Wealth Partners decreased its stake in Merck & Co., Inc. (NYSE:MRK) by 48.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,809 shares of the company’s stock after selling 21,488 shares during the period. Concord Wealth Partners’ holdings in Merck & Co., Inc. were worth $2,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC boosted its holdings in shares of Merck & Co., Inc. by 16.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 27,203 shares of the company’s stock worth $2,716,000 after purchasing an additional 3,909 shares in the last quarter. Everett Harris & Co. CA boosted its stake in Merck & Co., Inc. by 7.7% in the fourth quarter. Everett Harris & Co. CA now owns 199,268 shares of the company’s stock worth $19,823,000 after buying an additional 14,282 shares in the last quarter. Total Clarity Wealth Management Inc. grew its position in Merck & Co., Inc. by 2.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 15,420 shares of the company’s stock valued at $1,534,000 after acquiring an additional 386 shares during the last quarter. Clear Creek Financial Management LLC grew its position in Merck & Co., Inc. by 13.2% during the fourth quarter. Clear Creek Financial Management LLC now owns 5,263 shares of the company’s stock valued at $524,000 after acquiring an additional 615 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of Merck & Co., Inc. during the fourth quarter worth approximately $988,000. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MRK shares. Hsbc Global Res raised shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Wolfe Research began coverage on Merck & Co., Inc. in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Citigroup reduced their price target on Merck & Co., Inc. from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday. Daiwa America lowered Merck & Co., Inc. from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim cut their target price on shares of Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and an average target price of $122.67.

Merck & Co., Inc. Price Performance

Shares of MRK opened at $98.80 on Friday. Merck & Co., Inc. has a fifty-two week low of $94.48 and a fifty-two week high of $134.63. The firm’s 50-day simple moving average is $99.83 and its two-hundred day simple moving average is $107.79. The stock has a market cap of $249.93 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.18 and a beta of 0.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.15 and a current ratio of 1.36.

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

Merck & Co., Inc. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio (DPR) is currently 67.92%.

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

Merck & Co., Inc. Company 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.