Hartford Funds Management Co LLC Lowers Position in Merck & Co., Inc. (NYSE:MRK)

Hartford Funds Management Co LLC cut its holdings in Merck & Co., Inc. (NYSE:MRK) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,036 shares of the company’s stock after selling 891 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Merck & Co., Inc. were worth $1,197,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $26,000. Financial Life Planners purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $28,000. Noble Wealth Management PBC purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $28,000. Finally, Promus Capital LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter valued at approximately $30,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Merck & Co., Inc.

In other Merck & Co., Inc. news, insider Cristal N. Downing sold 2,361 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 7,085 shares of the company’s stock, valued at $628,864.60. This trade represents a 24.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Inge G. Thulin bought 2,833 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was bought at an average cost of $88.25 per share, with a total value of $250,012.25. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MRK has been the topic of a number of recent research reports. Wolfe Research started coverage on Merck & Co., Inc. in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Hsbc Global Res upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Daiwa Capital Markets lowered Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. UBS Group lowered their price objective on Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, BMO Capital Markets lowered their price objective on Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.39.

Merck & Co., Inc. Stock Up 0.8 %

NYSE MRK opened at $93.93 on Friday. The business has a fifty day moving average price of $94.13 and a 200 day moving average price of $102.87. Merck & Co., Inc. has a one year low of $81.04 and a one year high of $134.63. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.15 and a current ratio of 1.36. The company has a market cap of $237.26 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.77 and a beta of 0.38.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $15.51 billion. During the same period in the prior year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

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

Merck & Co., Inc. Announces Dividend

The company 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 $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is currently 48.14%.

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.