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Nuveen LLC Makes New $991.55 Million Investment in Merck & Co., Inc. (NYSE:MRK)

Merck & Co., Inc. logo with Medical background

Key Points

  • Nuveen LLC acquired 11,046,718 shares of Merck & Co., Inc. in Q1 2023, totaling approximately $991.55 million, representing a 0.44% stake in the company.
  • Merck reported a quarterly earnings per share of $2.13, exceeding analysts' expectations, with a revenue of $15.81 billion, slightly below forecasts.
  • The company declared a quarterly dividend of $0.81, resulting in an annualized dividend yield of 4.0%, and indicated a payout ratio of 49.92%.
  • Looking to export and analyze Merck & Co., Inc. data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Nuveen LLC bought a new position in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,046,718 shares of the company's stock, valued at approximately $991,553,000. Nuveen LLC owned 0.44% of Merck & Co., Inc. as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Semus Wealth Partners LLC grew its stake in shares of Merck & Co., Inc. by 8.2% during the 1st quarter. Semus Wealth Partners LLC now owns 5,039 shares of the company's stock worth $452,000 after acquiring an additional 382 shares during the period. Quilter Plc grew its stake in shares of Merck & Co., Inc. by 5.6% during the 1st quarter. Quilter Plc now owns 1,180,797 shares of the company's stock worth $105,988,000 after acquiring an additional 62,933 shares during the period. Simplicity Wealth LLC grew its stake in shares of Merck & Co., Inc. by 991.7% during the 1st quarter. Simplicity Wealth LLC now owns 33,394 shares of the company's stock worth $2,997,000 after acquiring an additional 30,335 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Merck & Co., Inc. by 13.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 56,566 shares of the company's stock worth $5,118,000 after acquiring an additional 6,850 shares during the period. Finally, Advisor OS LLC lifted its holdings in Merck & Co., Inc. by 0.9% during the 1st quarter. Advisor OS LLC now owns 32,558 shares of the company's stock worth $2,922,000 after purchasing an additional 293 shares in the last quarter. 76.07% of the stock is owned by institutional investors and hedge funds.

Merck & Co., Inc. Stock Up 2.5%

NYSE MRK traded up $1.97 during midday trading on Wednesday, hitting $82.27. 892,059 shares of the company traded hands, compared to its average volume of 15,518,546. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.42 and a quick ratio of 1.17. The company has a market cap of $205.49 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.84 and a beta of 0.38. The company's 50-day simple moving average is $80.88 and its 200-day simple moving average is $83.72. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $120.30.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. The firm had revenue of $15.81 billion during the quarter, compared to analysts' expectations of $15.92 billion. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s payout ratio is 49.92%.

Analysts Set New Price Targets

MRK has been the topic of several recent research reports. Wall Street Zen lowered Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 25th. Morgan Stanley reduced their price target on Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Citigroup restated a "neutral" rating and set a $84.00 price target (down from $115.00) on shares of Merck & Co., Inc. in a research report on Wednesday, May 14th. Wells Fargo & Company cut their price objective on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Finally, Guggenheim reiterated a "buy" rating and issued a $115.00 price objective on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $107.44.

Read Our Latest Research Report on Merck & Co., Inc.

About Merck & Co., Inc.

(Free Report)

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.

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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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