Merck & Co., Inc. (NYSE:MRK) Shares Acquired by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in Merck & Co., Inc. by 16.1%, owning 35,768 shares valued at approximately $3.2 million after acquiring additional shares in the first quarter.
• Merck's latest earnings report showed an EPS of $2.13, exceeding analysts' expectations, though revenue of $15.81 billion fell short of consensus estimates.
• The company announced a quarterly dividend of $0.81 per share, set to be paid on October 7th, representing a 4.0% yield and a payout ratio of nearly 50%.

E Fund Management Co. Ltd. lifted its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 16.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,768 shares of the company's stock after acquiring an additional 4,969 shares during the period. E Fund Management Co. Ltd.'s holdings in Merck & Co., Inc. were worth $3,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in Merck & Co., Inc. by 29.5% during the fourth quarter. Brighton Jones LLC now owns 38,278 shares of the company's stock worth $3,808,000 after buying an additional 8,710 shares during the period. American Assets Inc. acquired a new position in Merck & Co., Inc. during the fourth quarter worth approximately $398,000. CreativeOne Wealth LLC increased its position in Merck & Co., Inc. by 28.2% during the fourth quarter. CreativeOne Wealth LLC now owns 31,336 shares of the company's stock worth $3,117,000 after buying an additional 6,886 shares during the period. Belpointe Asset Management LLC increased its position in Merck & Co., Inc. by 1.3% during the fourth quarter. Belpointe Asset Management LLC now owns 12,760 shares of the company's stock worth $1,269,000 after buying an additional 158 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Merck & Co., Inc. during the fourth quarter worth approximately $14,190,000. Institutional investors and hedge funds own 76.07% of the company's stock.

Merck & Co., Inc. Stock Up 0.3%

MRK opened at $80.29 on Wednesday. The business's fifty day moving average is $80.88 and its two-hundred day moving average is $83.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.17 and a current ratio of 1.42. The company has a market cap of $200.55 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.84 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.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. The company had revenue of $15.81 billion for the quarter, compared to the consensus estimate of $15.92 billion. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%. Analysts anticipate that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders 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 yield of 4.0%. The ex-dividend date is Monday, September 15th. Merck & Co., Inc.'s payout ratio is presently 49.92%.

Analyst Ratings Changes

Several research firms have commented on MRK. 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 dropped their target price 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. Citigroup reissued a "neutral" rating and issued a $84.00 target price (down previously from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Guggenheim reissued a "buy" rating and issued a $115.00 target price on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Finally, Cantor Fitzgerald lowered Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Merck & Co., Inc. currently has a consensus rating of "Hold" and an average price target of $107.44.

Merck & Co., Inc. 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.

Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merck & Co., Inc. (NYSE:MRK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.