Cheviot Value Management LLC Boosts Stake in Merck & Co., Inc. (NYSE:MRK)

Key Points

• Cheviot Value Management LLC increased its stake in Merck & Co., Inc. by 22.3%, owning 145,581 shares valued at approximately $12.06 million at the end of Q1.
• Several analysts downgraded their ratings and price targets for Merck recently, with Wells Fargo reducing its price objective from $97.00 to $90.00.
• Merck also declared a quarterly dividend of $0.81, representing an annualized dividend yield of 4.1% for stockholders of record by September 15th.

Cheviot Value Management LLC grew its stake in Merck & Co., Inc. (NYSE:MRK - Free Report) by 22.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,581 shares of the company's stock after acquiring an additional 26,575 shares during the quarter. Merck & Co., Inc. accounts for 1.5% of Cheviot Value Management LLC's holdings, making the stock its 22nd biggest position. Cheviot Value Management LLC's holdings in Merck & Co., Inc. were worth $12,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the business. Semus Wealth Partners LLC increased its position in shares of Merck & Co., Inc. by 8.2% in the first quarter. Semus Wealth Partners LLC now owns 5,039 shares of the company's stock worth $452,000 after purchasing an additional 382 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 purchasing an additional 62,933 shares during the period. Simplicity Wealth LLC grew its position in Merck & Co., Inc. by 991.7% in the first quarter. Simplicity Wealth LLC now owns 33,394 shares of the company's stock valued at $2,997,000 after acquiring an additional 30,335 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Merck & Co., Inc. by 13.8% in the first 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 last quarter. Finally, Advisor OS LLC grew its position in Merck & Co., Inc. by 0.9% in the first quarter. Advisor OS LLC now owns 32,558 shares of the company's stock valued at $2,922,000 after acquiring an additional 293 shares during the last quarter. 76.07% of the stock is owned by institutional investors.

Merck & Co., Inc. Stock Down 0.1%

Shares of MRK traded down $0.12 during midday trading on Wednesday, reaching $80.67. 3,410,970 shares of the stock were exchanged, compared to its average volume of 15,739,197. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $202.56 billion, a P/E ratio of 12.35, a PEG ratio of 0.81 and a beta of 0.38. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $120.30. The company's 50 day moving average is $80.52 and its two-hundred day moving average is $84.29.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued its quarterly earnings data 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 return on equity of 41.63% and a net margin of 25.79%. On average, sell-side analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current 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 $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio (DPR) is presently 49.92%.

Analyst Ratings Changes

MRK has been the topic of a number of recent analyst reports. Citigroup reaffirmed a "neutral" rating and issued a $84.00 price objective (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 note on Tuesday, May 20th. Morgan Stanley lowered 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 research note on Thursday, July 10th. Guggenheim reiterated a "buy" rating and set a $115.00 price target on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. Finally, Wall Street Zen cut shares of Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $107.44.

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.