Cibc World Markets Corp Grows Stake in Merck & Co., Inc. (NYSE:MRK)

Cibc World Markets Corp lifted its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 540,749 shares of the company’s stock after buying an additional 52,189 shares during the quarter. Cibc World Markets Corp’s holdings in Merck & Co., Inc. were worth $53,794,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $26,000. Financial Life Planners purchased a new stake in Merck & Co., Inc. during the 4th quarter worth $28,000. Noble Wealth Management PBC purchased a new stake in Merck & Co., Inc. during the 4th quarter worth $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter worth about $28,000. Finally, Promus Capital LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter worth about $30,000. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Performance

Shares of NYSE MRK opened at $94.72 on Monday. Merck & Co., Inc. has a 12-month low of $81.04 and a 12-month high of $134.63. The company has a market cap of $239.27 billion, a PE ratio of 14.07, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50 day simple moving average of $93.57 and a 200-day simple moving average of $101.78. 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 announced its quarterly earnings results 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). The business had revenue of $15.62 billion for the quarter, compared to analyst estimates of $15.51 billion. Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. On average, equities research analysts forecast that Merck & Co., Inc. will post 9.01 EPS for the current year.

Merck & Co., Inc. Announces Dividend

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

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America dropped their price objective 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. Hsbc Global Res upgraded shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. TD Securities lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $121.00 to $100.00 in a research note on Monday, February 10th. Guggenheim dropped their target price on shares of Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, TD Cowen downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $121.00 to $100.00 in a research report on Monday, February 10th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $117.12.

Insider Activity at Merck & Co., Inc.

In other news, Director Inge G. Thulin bought 2,833 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were purchased at an average cost 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 in the company, valued at approximately $258,837.25. The trade was a 2,833.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cristal N. Downing sold 2,361 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $88.76, for a total transaction of $209,562.36. Following the completion of the sale, the insider now directly owns 7,085 shares of the company’s stock, valued at $628,864.60. The trade was a 24.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.