Corebridge Financial Inc. Sells 17,190 Shares of Merck & Co., Inc. $MRK

Key Points

• Corebridge Financial Inc. has reduced its holdings in Merck & Co., Inc. by 3.0%, now owning 564,199 shares worth approximately $50.6 million.
• Merck's stock is currently trading at $87.18, with a market capitalization of $217.76 billion and a P/E ratio of 13.43.
• The company recently announced a quarterly dividend of $0.81 per share, reflecting an annualized amount of $3.24 and a dividend yield of 3.7%.

Corebridge Financial Inc. lowered its position in Merck & Co., Inc. (NYSE:MRK - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 564,199 shares of the company's stock after selling 17,190 shares during the quarter. Corebridge Financial Inc.'s holdings in Merck & Co., Inc. were worth $50,643,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC bought a new position in Merck & Co., Inc. in the first quarter valued at $27,000. Spurstone Advisory Services LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter worth about $37,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Merck & Co., Inc. during the first quarter worth about $36,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Merck & Co., Inc. in the fourth quarter worth about $44,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter worth about $45,000. Institutional investors own 76.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup restated a "neutral" rating and issued a $84.00 price objective (down from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Morgan Stanley lowered their price objective on shares of Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company lowered their price objective on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald lowered shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $107.44.

Merck & Co., Inc. Stock Up 1.1%

Shares of NYSE MRK traded up $0.92 on Friday, reaching $84.13. 10,869,578 shares of the company's stock traded hands, compared to its average volume of 15,285,894. Merck & Co., Inc. has a 12 month low of $73.31 and a 12 month high of $120.30. The business's 50 day simple moving average is $82.04 and its two-hundred day simple moving average is $83.02. The company has a market cap of $210.14 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.38. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.69.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.10. Merck & Co., Inc. had a net margin of 25.79% and a return on equity of 41.05%. The business had revenue of $15.81 billion during the quarter, compared to the consensus estimate of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. As a group, equities research analysts forecast that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.24 annualized dividend and a dividend yield of 3.9%. Merck & Co., Inc.'s dividend payout ratio (DPR) is 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.