Centre Asset Management LLC Makes New Investment in Merck & Co., Inc. (NYSE:MRK)

Centre Asset Management LLC bought a new position in shares of Merck & Co., Inc. (NYSE:MRK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,132 shares of the company’s stock, valued at approximately $4,949,000.

A number of other institutional investors also recently bought and sold shares of MRK. Midwest Capital Advisors LLC purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $26,000. Financial Life Planners purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $28,000. Noble Wealth Management PBC purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $28,000. Finally, Promus Capital LLC purchased a new position in Merck & Co., Inc. during the fourth quarter worth about $30,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Down 1.8%

Shares of Merck & Co., Inc. stock opened at $76.17 on Thursday. The company has a market cap of $191.27 billion, a P/E ratio of 11.32, a PEG ratio of 0.77 and a beta of 0.43. 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 one year low of $73.31 and a one year high of $134.63. The firm has a fifty day moving average of $80.74 and a two-hundred day moving average of $90.95.

Merck & Co., Inc. (NYSE:MRK) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.06. The company had revenue of $15.53 billion during the quarter, compared to the consensus estimate of $15.59 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. Merck & Co., Inc.’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 EPS. On average, analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 16th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.25%. Merck & Co., Inc.’s dividend payout ratio is presently 47.16%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MRK. TD Securities downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and reduced their price target for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $128.00 to $105.00 in a report 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 for the company in a report on Wednesday, February 5th. Finally, TD Cowen cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $121.00 to $100.00 in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.19.

Insider Activity

In other news, SVP Dalton E. Smart III sold 4,262 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $82.76, for a total value of $352,723.12. Following the completion of the transaction, the senior vice president now owns 7,778 shares in the company, valued at $643,707.28. This trade represents a 35.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.