Connor Clark & Lunn Investment Management Ltd. Sells 291,231 Shares of Merck & Co., Inc. $MRK

Key Points

• Connor Clark & Lunn Investment Management Ltd. drastically reduced its stake in Merck & Co., Inc. by 96.2%, selling 291,231 shares to end with just 11,523 shares valued at approximately $1,034,000.
• Merck & Co., Inc. announced a quarterly dividend of $0.81 per share, which represents a 3.8% dividend yield and will be paid on October 7th.
• Analysts have varied opinions on Merck's stock, with a consensus rating of "Hold" and a price target of $107.44, amidst several recent downgrades from previously higher price targets.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 96.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,523 shares of the company's stock after selling 291,231 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Merck & Co., Inc. were worth $1,034,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MRK. Charles Schwab Investment Management Inc. boosted its stake in Merck & Co., Inc. by 144.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,229,283 shares of the company's stock valued at $4,418,820,000 after purchasing an additional 29,104,112 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Merck & Co., Inc. by 2,240.9% in the first quarter. Pacer Advisors Inc. now owns 5,286,801 shares of the company's stock worth $474,543,000 after purchasing an additional 5,060,959 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Merck & Co., Inc. by 16.8% during the fourth quarter. Northern Trust Corp now owns 31,377,107 shares of the company's stock valued at $3,121,395,000 after purchasing an additional 4,511,742 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Merck & Co., Inc. by 63.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,577,535 shares of the company's stock valued at $1,151,642,000 after purchasing an additional 4,480,007 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Merck & Co., Inc. by 9,991.9% during the first quarter. GAMMA Investing LLC now owns 4,332,446 shares of the company's stock valued at $388,880,000 after buying an additional 4,289,516 shares during the last quarter. Hedge funds and other institutional investors own 76.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MRK shares. Wall Street Zen lowered Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 25th. Citigroup reiterated a "neutral" rating and issued a $84.00 price target (down from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday, May 14th. Cantor Fitzgerald downgraded shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. Wells Fargo & Company dropped their target price on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. Finally, Morgan Stanley decreased their target price on shares of Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $107.44.

Merck & Co., Inc. Price Performance

MRK stock traded down $0.1270 during mid-day trading on Wednesday, hitting $84.8030. The company had a trading volume of 4,268,752 shares, compared to its average volume of 15,392,507. The company has a 50-day moving average price of $81.35 and a 200 day moving average price of $83.22. Merck & Co., Inc. has a 12-month low of $73.31 and a 12-month high of $120.30. The company has a market capitalization of $211.82 billion, a price-to-earnings ratio of 13.06, a P/E/G 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 issued its earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $15.81 billion for the quarter, compared to analysts' expectations of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. On average, research analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

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 given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, September 15th. Merck & Co., Inc.'s 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.