RNC Capital Management LLC Buys 258,910 Shares of Merck & Co., Inc. (NYSE:MRK)

RNC Capital Management LLC increased its stake in Merck & Co., Inc. (NYSE:MRK) by 893.4% during the 4th quarter, Holdings Channel reports. The firm owned 287,889 shares of the company’s stock after purchasing an additional 258,910 shares during the quarter. RNC Capital Management LLC’s holdings in Merck & Co., Inc. were worth $28,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MRK. Financial Life Planners purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of Merck & Co., Inc. during the third quarter valued at $32,000. AM Squared Ltd bought a new position in shares of Merck & Co., Inc. during the third quarter valued at $34,000. Safe Harbor Fiduciary LLC bought a new position in shares of Merck & Co., Inc. during the third quarter valued at $34,000. Finally, Peterson Financial Group Inc. bought a new stake in Merck & Co., Inc. in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Down 1.9 %

MRK stock opened at $87.97 on Friday. The firm has a market cap of $222.54 billion, a PE ratio of 18.44, a P/E/G ratio of 1.20 and a beta of 0.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.15 and a current ratio of 1.36. The firm’s fifty day moving average is $99.31 and its 200 day moving average is $107.00. Merck & Co., Inc. has a one year low of $87.33 and a one year high of $134.63.

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). The company had revenue of $15.62 billion for the quarter, compared to analysts’ expectations of $15.51 billion. Merck & Co., Inc. had a net margin of 19.23% and a return on equity of 36.42%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, research analysts forecast that Merck & Co., Inc. will post 7.62 EPS for the current year.

Merck & Co., Inc. declared that its board has approved a stock repurchase program on Tuesday, January 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Merck & Co., Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 17th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is presently 67.92%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MRK shares. Daiwa Capital Markets cut Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Morgan Stanley cut their target price on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Guggenheim reduced their target price on Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Hsbc Global Res raised shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Finally, Wolfe Research began coverage on shares of Merck & Co., Inc. in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

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.