Jupiter Asset Management Ltd. Invests $83.73 Million in Merck & Co., Inc. (NYSE:MRK)

Key Points

• Jupiter Asset Management Ltd. acquired 932,832 shares of Merck & Co., Inc. for approximately $83.7 million, making up about 0.8% of its holdings.
• Merck's stock price increased by 1.5% recently, with a current market capitalization of $199.05 billion and a P/E ratio of 12.21.
• The company declared a quarterly dividend of $0.81, resulting in an annualized dividend yield of 4.1% for investors of record.

Jupiter Asset Management Ltd. bought a new stake in Merck & Co., Inc. (NYSE:MRK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 932,832 shares of the company's stock, valued at approximately $83,731,000. Merck & Co., Inc. accounts for approximately 0.8% of Jupiter Asset Management Ltd.'s investment portfolio, making the stock its 18th largest position.

A number of other large investors also recently made changes to their positions in MRK. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Merck & Co., Inc. during the 1st quarter valued at about $27,000. MorganRosel Wealth Management LLC acquired a new stake in Merck & Co., Inc. during the first quarter worth about $36,000. Spurstone Advisory Services LLC acquired a new position in Merck & Co., Inc. in the fourth quarter worth about $37,000. Hurley Capital LLC acquired a new position in Merck & Co., Inc. in the fourth quarter worth about $40,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Merck & Co., Inc. in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 76.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald downgraded shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. Wall Street Zen cut Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. Citigroup restated a "neutral" rating and issued a $84.00 price target (down from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Morgan Stanley cut their price target on Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $115.00 target price on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Merck & Co., Inc. currently has a consensus rating of "Hold" and a consensus target price of $107.44.

Merck & Co., Inc. Trading Up 1.5%

Merck & Co., Inc. stock traded up $1.15 during trading hours on Friday, hitting $79.27. The stock had a trading volume of 11,898,764 shares, compared to its average volume of 13,108,983. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. The stock has a market cap of $199.05 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.80 and a beta of 0.38. Merck & Co., Inc. has a one year low of $73.31 and a one year high of $120.30. The business's 50 day simple moving average is $80.41 and its 200-day simple moving average is $84.44.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.10. Merck & Co., Inc. had a return on equity of 41.63% and a net margin of 25.79%. The firm had revenue of $15.81 billion for the quarter, compared to analyst estimates of $15.92 billion. On average, equities analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

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 given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio is 49.92%.

About Merck & Co., Inc.

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.