Edge Wealth Management LLC Decreases Holdings in Merck & Co., Inc. (NYSE:MRK)

Edge Wealth Management LLC lowered its holdings in Merck & Co., Inc. (NYSE:MRK) by 1.3% during the fourth quarter, HoldingsChannel reports. The fund owned 121,987 shares of the company’s stock after selling 1,574 shares during the period. Merck & Co., Inc. accounts for about 2.5% of Edge Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Edge Wealth Management LLC’s holdings in Merck & Co., Inc. were worth $12,135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in Merck & Co., Inc. in the third quarter valued at approximately $32,000. AM Squared Ltd acquired a new position in shares of Merck & Co., Inc. in the 3rd quarter valued at $34,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Merck & Co., Inc. in the 3rd quarter valued at $34,000. Itau Unibanco Holding S.A. purchased a new position in shares of Merck & Co., Inc. in the 2nd quarter valued at $39,000. Finally, Peterson Financial Group Inc. acquired a new stake in Merck & Co., Inc. during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

Merck & Co., Inc. Trading Up 0.6 %

NYSE MRK opened at $100.72 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $254.80 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.17 and a beta of 0.39. Merck & Co., Inc. has a 52-week low of $94.48 and a 52-week high of $134.63. The firm has a 50-day moving average price of $100.12 and a 200 day moving average price of $110.12.

Merck & Co., Inc. (NYSE:MRK) last issued its earnings results on Thursday, October 31st. The company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. The business had revenue of $16.66 billion during the quarter, compared to the consensus estimate of $16.47 billion. Merck & Co., Inc. had a return on equity of 36.42% and a net margin of 19.23%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 EPS. Equities research analysts expect that Merck & Co., Inc. will post 7.7 EPS for the current year.

Merck & Co., Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were issued a $0.81 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.24 dividend on an annualized basis and a yield of 3.22%. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.77. Merck & Co., Inc.’s dividend payout ratio (DPR) is 67.92%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial restated a “hold” rating and issued a $110.00 price objective (down previously from $130.00) on shares of Merck & Co., Inc. in a research note on Wednesday, January 8th. Citigroup decreased their target price on Merck & Co., Inc. from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 25th. 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 report on Wednesday, December 4th. Sanford C. Bernstein initiated coverage on Merck & Co., Inc. in a report on Thursday, October 17th. They issued a “market perform” rating and a $115.00 price objective for the company. Finally, Wolfe Research initiated coverage on shares of Merck & Co., Inc. in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.67.

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.