Fred Alger Management LLC Raises Holdings in Merck & Co., Inc. $MRK

Key Points

• Fred Alger Management LLC significantly increased its holdings in Merck & Co., Inc. by 378.5%, now owning 45,450 shares valued at $4.12 million as of the last reporting period.
• Merck recently reported $2.13 earnings per share, exceeding analysts’ expectations of $2.03, along with a revenue of $15.81 billion for the quarter.
• The company announced a quarterly dividend of $0.81 per share, reflecting an annualized dividend yield of 3.8% and a payout ratio of 49.92%.

Fred Alger Management LLC raised its position in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 378.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,450 shares of the company's stock after acquiring an additional 35,952 shares during the period. Fred Alger Management LLC's holdings in Merck & Co., Inc. were worth $4,115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Semus Wealth Partners LLC increased its position in 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 purchasing an additional 382 shares in the last quarter. Longfellow Investment Management Co. LLC grew its stake in Merck & Co., Inc. by 20.4% during the first quarter. Longfellow Investment Management Co. LLC now owns 19,376 shares of the company's stock worth $1,739,000 after buying an additional 3,282 shares during the period. Quilter Plc increased its position in shares of Merck & Co., Inc. by 5.6% in the first 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 in the last quarter. Simplicity Wealth LLC increased its position in shares of Merck & Co., Inc. by 991.7% in the first 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 in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Merck & Co., Inc. by 13.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 56,566 shares of the company's stock valued at $5,118,000 after acquiring an additional 6,850 shares during the period. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MRK. Morgan Stanley reduced their target price on shares of 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. Citigroup reaffirmed a "neutral" rating and issued a $84.00 target price (down previously from $115.00) on shares of Merck & Co., Inc. in a research report on Wednesday, May 14th. Wells Fargo & Company lowered their target price on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald lowered Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Merck & Co., Inc. currently has a consensus rating of "Hold" and an average target price of $107.44.

Merck & Co., Inc. Stock Performance

NYSE:MRK opened at $84.71 on Wednesday. The firm has a 50-day moving average of $82.78 and a two-hundred day moving average of $82.95. 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 stock has a market cap of $211.59 billion, a P/E ratio of 13.05, a PEG ratio of 0.86 and a beta of 0.37. Merck & Co., Inc. has a 1-year low of $73.31 and a 1-year high of $119.38.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%.The business had revenue of $15.81 billion for the quarter, compared to analyst estimates of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, September 15th. This represents a $3.24 annualized dividend and a yield of 3.8%. Merck & Co., Inc.'s payout ratio is currently 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.

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