Tocqueville Asset Management L.P. Sells 29,037 Shares of Merck & Co., Inc. (NYSE:MRK)

Tocqueville Asset Management L.P. trimmed its position in shares of Merck & Co., Inc. (NYSE:MRK) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 760,610 shares of the company’s stock after selling 29,037 shares during the quarter. Merck & Co., Inc. comprises about 1.2% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 14th largest holding. Tocqueville Asset Management L.P.’s holdings in Merck & Co., Inc. were worth $75,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of Merck & Co., Inc. by 12.9% during the 3rd quarter. Franklin Resources Inc. now owns 16,049,161 shares of the company’s stock worth $1,759,800,000 after purchasing an additional 1,836,505 shares during the period. Janney Montgomery Scott LLC raised its holdings in Merck & Co., Inc. by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,902,509 shares of the company’s stock valued at $189,262,000 after buying an additional 35,525 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Merck & Co., Inc. by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,807,293 shares of the company’s stock valued at $2,135,785,000 after buying an additional 514,060 shares during the period. Littlejohn Financial Services Inc. acquired a new position in Merck & Co., Inc. in the 4th quarter valued at about $2,080,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Merck & Co., Inc. by 3.5% during the third quarter. Thrivent Financial for Lutherans now owns 1,837,354 shares of the company’s stock worth $208,649,000 after buying an additional 62,047 shares in the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group reduced their price objective on Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $128.00 to $105.00 in a research note on Tuesday, February 18th. Leerink Partners reduced their target price on Merck & Co., Inc. from $136.00 to $119.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Bank of America dropped their target price on Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, HSBC upgraded Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.12.

Insider Activity at Merck & Co., Inc.

In other news, Director Inge G. Thulin purchased 2,833 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average cost of $88.25 per share, for a total transaction of $250,012.25. Following the acquisition, the director now owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. This trade represents a 2,833.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cristal N. Downing sold 2,361 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $88.76, for a total transaction of $209,562.36. Following the completion of the transaction, the insider now owns 7,085 shares in the company, valued at $628,864.60. This represents a 24.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $94.72 on Monday. The company has a market capitalization of $239.27 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a fifty day moving average of $93.57 and a 200-day moving average of $101.78. Merck & Co., Inc. has a 52-week low of $81.04 and a 52-week high of $134.63. 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the firm posted $0.03 EPS. Merck & Co., Inc.’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, March 17th. This represents a $3.24 annualized dividend and a dividend yield of 3.42%. Merck & Co., Inc.’s payout ratio is 48.14%.

Merck & Co., Inc. announced that its board has authorized a share buyback program on Tuesday, January 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.