Penobscot Investment Management Company Inc. Reduces Position in Merck & Co., Inc. (NYSE:MRK)

Penobscot Investment Management Company Inc. decreased its position in Merck & Co., Inc. (NYSE:MRK) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 36,164 shares of the company’s stock after selling 5,225 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Merck & Co., Inc. were worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new stake in shares of Merck & Co., Inc. during the fourth quarter worth about $26,000. Financial Life Planners purchased a new position in Merck & Co., Inc. during the 4th quarter worth approximately $28,000. Noble Wealth Management PBC purchased a new position in Merck & Co., Inc. during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Merck & Co., Inc. during the 4th quarter valued at approximately $28,000. Finally, Promus Capital LLC purchased a new stake in shares of Merck & Co., Inc. in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $87.88 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $92.60 and its 200-day simple moving average is $100.57. The company has a market cap of $221.99 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Merck & Co., Inc. has a 1-year low of $81.04 and a 1-year high of $134.63.

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 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 business posted $0.03 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.24 annualized dividend and a yield of 3.69%. Merck & Co., Inc.’s dividend payout ratio is presently 48.14%.

Merck & Co., Inc. declared that its Board of Directors has approved a share repurchase program on Tuesday, January 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to purchase 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 shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MRK shares. TD Cowen cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $121.00 to $100.00 in a report on Monday, February 10th. Truist Financial reissued a “hold” rating and issued a $110.00 price objective (down previously from $130.00) on shares of Merck & Co., Inc. in a report on Wednesday, January 8th. Guggenheim dropped their target price on Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Citigroup decreased their price target on Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, TD Securities cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $121.00 to $100.00 in a research note on Monday, February 10th. Eleven 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.12.

Insider Buying and Selling at Merck & Co., Inc.

In related news, Director Inge G. Thulin purchased 2,833 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was purchased 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 owns 2,933 shares in the company, valued at $258,837.25. This trade represents a 2,833.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cristal N. Downing sold 2,361 shares of Merck & Co., Inc. stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $88.76, for a total value of $209,562.36. Following the transaction, the insider now owns 7,085 shares in the company, valued at approximately $628,864.60. The trade was a 24.99 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

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.