Bank of New York Mellon Corp Acquires 5,550,824 Shares of Merck & Co., Inc. (NYSE:MRK)

Bank of New York Mellon Corp increased its holdings in shares of Merck & Co., Inc. (NYSE:MRK) by 29.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,213,537 shares of the company’s stock after buying an additional 5,550,824 shares during the quarter. Bank of New York Mellon Corp owned 0.96% of Merck & Co., Inc. worth $2,408,763,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Midwest Capital Advisors LLC bought a new stake in shares of Merck & Co., Inc. during the fourth quarter worth $26,000. Financial Life Planners bought a new position in shares of Merck & Co., Inc. in the 4th quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Merck & Co., Inc. during the 3rd quarter valued at $32,000. AM Squared Ltd bought a new stake in Merck & Co., Inc. during the 3rd quarter worth $34,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Merck & Co., Inc. in the 3rd quarter worth about $34,000. 76.07% of the stock is owned by institutional investors and hedge funds.

Merck & Co., Inc. Stock Up 1.9 %

Merck & Co., Inc. stock opened at $91.22 on Tuesday. The company has a market capitalization of $230.74 billion, a PE ratio of 13.55, a PEG ratio of 0.77 and a beta of 0.38. Merck & Co., Inc. has a 12-month low of $81.04 and a 12-month high of $134.63. The firm’s fifty day moving average is $95.28 and its 200 day moving average is $103.94. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79.

Merck & Co., Inc. (NYSE:MRK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 earnings per share 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 analyst estimates of $15.51 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. Merck & Co., Inc.’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, sell-side analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 17th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a yield of 3.55%. Merck & Co., Inc.’s dividend payout ratio (DPR) is presently 48.14%.

Merck & Co., Inc. declared that its board has initiated a share repurchase plan on Tuesday, January 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on MRK shares. HSBC raised Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Wednesday, December 4th. BMO Capital Markets cut their target price on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price target for the company from $128.00 to $105.00 in a research report on Tuesday, February 18th. Citigroup dropped their price target on shares of Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, Bank of America reduced their price objective on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $116.39.

Insider Activity

In other Merck & Co., Inc. news, insider Cristal N. Downing sold 2,361 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $88.76, for a total transaction of $209,562.36. Following the transaction, the insider now owns 7,085 shares in the company, valued at approximately $628,864.60. This represents a 24.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Inge G. Thulin acquired 2,833 shares of Merck & Co., Inc. stock in a transaction dated Thursday, February 6th. The shares were acquired at an average price of $88.25 per share, with a total value of $250,012.25. Following the completion of the acquisition, the director now directly owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. The trade was a 2,833.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.