Banco Santander S.A. Cuts Stake in Merck & Co., Inc. (NYSE:MRK)

Key Points

• Banco Santander S.A. has reduced its holdings in Merck & Co., Inc. by 37.5%, selling 190,114 shares, which now leaves them with a total of 316,913 shares worth approximately $28.45 million.
• Other hedge funds have increased their stakes in Merck, with Pacer Advisors Inc. expanding its position by an impressive 2,240.9% during the first quarter, bringing their total to over 5.28 million shares.
• Merck recently announced a quarterly dividend of $0.81 per share, which equates to an annualized dividend yield of 4.1%, with a payout ratio of 49.92%.

Banco Santander S.A. lowered its holdings in Merck & Co., Inc. (NYSE:MRK - Free Report) by 37.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 316,913 shares of the company's stock after selling 190,114 shares during the quarter. Banco Santander S.A.'s holdings in Merck & Co., Inc. were worth $28,446,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MRK shares. Wall Street Zen downgraded shares of Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 25th. Citigroup reaffirmed a "neutral" rating and set a $84.00 target price (down from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday, May 14th. Guggenheim reaffirmed a "buy" rating and set a $115.00 target price on shares of Merck & Co., Inc. in a research note on Thursday, April 17th. Wells Fargo & Company reduced their price target on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Cantor Fitzgerald cut shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Merck & Co., Inc. has an average rating of "Hold" and an average price target of $107.44.

Merck & Co., Inc. Stock Up 1.5%

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

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued its quarterly earnings results 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 net margin of 25.79% and a return on equity of 41.63%. Analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be paid a dividend of $0.81 per share. The ex-dividend date is Monday, September 15th. This represents a $3.24 dividend on an annualized basis and a yield of 4.1%. Merck & Co., Inc.'s dividend payout ratio is currently 49.92%.

Merck & Co., Inc. Company 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.