Korea Investment CORP Sells 19,801 Shares of Merck & Co., Inc. (NYSE:MRK)

Korea Investment CORP decreased its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,995,350 shares of the company’s stock after selling 19,801 shares during the period. Merck & Co., Inc. makes up about 0.5% of Korea Investment CORP’s investment portfolio, making the stock its 29th largest holding. Korea Investment CORP owned about 0.08% of Merck & Co., Inc. worth $198,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Merck & Co., Inc. by 29.7% during the 4th quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock worth $2,408,763,000 after purchasing an additional 5,550,824 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Merck & Co., Inc. by 4.6% during the third quarter. Wellington Management Group LLP now owns 75,809,383 shares of the company’s stock worth $8,608,914,000 after buying an additional 3,327,404 shares during the period. Van ECK Associates Corp grew its holdings in shares of Merck & Co., Inc. by 748.0% during the fourth quarter. Van ECK Associates Corp now owns 3,149,841 shares of the company’s stock worth $313,346,000 after buying an additional 2,778,388 shares in the last quarter. Two Sigma Advisers LP raised its position in Merck & Co., Inc. by 157.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,264,100 shares of the company’s stock valued at $484,231,000 after buying an additional 2,610,800 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Merck & Co., Inc. by 68.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,388,551 shares of the company’s stock valued at $611,924,000 after acquiring an additional 2,194,463 shares in the last quarter. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 value of $209,562.36. Following the transaction, the insider now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Inge G. Thulin purchased 2,833 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were acquired at an average cost of $88.25 per share, for a total transaction of $250,012.25. Following the completion of the transaction, the director now owns 2,933 shares of the company’s stock, valued at $258,837.25. This trade represents a 2,833.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Merck & Co., Inc. Stock Up 0.2 %

Shares of MRK opened at $88.06 on Thursday. The firm has a market cap of $222.44 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. 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. has a 52 week low of $81.04 and a 52 week high of $134.63. The firm’s 50-day simple moving average is $92.35 and its 200 day simple moving average is $100.48.

Merck & Co., Inc. (NYSE:MRK) last issued 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 return on equity of 45.35% and a net margin of 26.67%. The firm had revenue of $15.62 billion for the quarter, compared to the consensus estimate of $15.51 billion. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 6.8% on a year-over-year basis. On average, analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

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

Merck & Co., Inc. Announces Dividend

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 issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is 48.14%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MRK. Deutsche Bank Aktiengesellschaft cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $128.00 to $105.00 in a research note on Tuesday, February 18th. Morgan Stanley lowered their price target on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets reduced their price objective on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Truist Financial reaffirmed a “hold” rating and issued a $110.00 target price (down previously from $130.00) on shares of Merck & Co., Inc. in a research report on Wednesday, January 8th. Finally, TD Securities lowered 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 report on Monday, February 10th. Eleven equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.12.

Merck & Co., Inc. 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.