Geode Capital Management LLC Acquires 2,134,296 Shares of Merck & Co., Inc. (NYSE:MRK)

Geode Capital Management LLC lifted its stake in Merck & Co., Inc. (NYSE:MRK) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,155,004 shares of the company’s stock after buying an additional 2,134,296 shares during the quarter. Merck & Co., Inc. comprises 0.5% of Geode Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Geode Capital Management LLC owned 2.34% of Merck & Co., Inc. worth $6,696,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Darwin Wealth Management LLC bought a new position in Merck & Co., Inc. in the 3rd quarter worth $32,000. AM Squared Ltd bought a new position in Merck & Co., Inc. in the 3rd quarter worth approximately $34,000. Safe Harbor Fiduciary LLC purchased a new stake in Merck & Co., Inc. during the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. bought a new stake in shares of Merck & Co., Inc. during the third quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Merck & Co., Inc. during the second quarter worth $39,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Performance

Shares of Merck & Co., Inc. stock opened at $103.79 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average price is $104.11 and its 200-day moving average price is $115.56. The firm has a market cap of $262.55 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.48 and a beta of 0.39. Merck & Co., Inc. has a 12 month low of $94.48 and a 12 month high of $134.63.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.07. The company had revenue of $16.66 billion for the quarter, compared to analyst estimates of $16.47 billion. Merck & Co., Inc. had a net margin of 19.23% and a return on equity of 36.42%. Merck & Co., Inc.’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $2.13 earnings per share. On average, equities research analysts expect that Merck & Co., Inc. will post 7.73 earnings per share for the current fiscal year.

Merck & Co., Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.12%. This is a positive change from Merck & Co., Inc.’s previous quarterly dividend of $0.77. The ex-dividend date is Monday, December 16th. Merck & Co., Inc.’s dividend payout ratio is presently 64.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group reduced their target price on Merck & Co., Inc. from $142.00 to $136.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Truist Financial reduced their price target on shares of Merck & Co., Inc. from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price target on shares of Merck & Co., Inc. from $125.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Sanford C. Bernstein initiated coverage on Merck & Co., Inc. in a research note on Thursday, October 17th. They set a “market perform” rating and a $115.00 price objective on the stock. Finally, Guggenheim lowered their price target on Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Merck & Co., Inc. currently has an average rating of “Moderate Buy” and an average price target of $130.80.

Merck & Co., Inc. Company Profile

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.