Narwhal Capital Management Reduces Stake in Merck & Co., Inc. $MRK

Key Points

• Narwhal Capital Management trimmed its Merck stake by 18.0% in Q4, selling 24,562 shares and leaving it with 111,743 shares valued at about $11.76 million.
• Insider selling has been notable: CFO Caroline Litchfield sold 41,997 shares and CMO Chirfi Guindo sold 20,000, with insiders disposing of 320,176 shares worth $38.28 million in the past 90 days (insiders now own 0.17%).
• Merck reported an earnings beat (Q EPS $2.04 vs. $2.01) and $16.40B revenue, set FY2026 EPS guidance of 5.00–5.15, and has positive pipeline/regulatory developments (Terns clearance, Winrevair data, ENFLONSIA approval) while analysts hold a consensus Moderate Buy target of $128.47.

Narwhal Capital Management cut its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,743 shares of the company's stock after selling 24,562 shares during the period. Narwhal Capital Management's holdings in Merck & Co., Inc. were worth $11,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRK. Barnes Dennig Private Wealth Management LLC boosted its holdings in Merck & Co., Inc. by 302.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 354 shares of the company's stock valued at $30,000 after acquiring an additional 266 shares in the last quarter. United Financial Planning Group LLC bought a new position in Merck & Co., Inc. in the 3rd quarter worth $31,000. Wealth Watch Advisors INC bought a new position in Merck & Co., Inc. in the 3rd quarter worth $34,000. Dunhill Financial LLC lifted its position in shares of Merck & Co., Inc. by 83.0% in the 3rd quarter. Dunhill Financial LLC now owns 419 shares of the company's stock worth $35,000 after purchasing an additional 190 shares during the period. Finally, Silicon Valley Capital Partners lifted its position in shares of Merck & Co., Inc. by 160.5% in the 3rd quarter. Silicon Valley Capital Partners now owns 422 shares of the company's stock worth $35,000 after purchasing an additional 260 shares during the period. Institutional investors own 76.07% of the company's stock.

Insider Activity

In related news, CFO Caroline Litchfield sold 41,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $119.61, for a total transaction of $5,023,261.17. Following the completion of the transaction, the chief financial officer owned 90,192 shares of the company's stock, valued at $10,787,865.12. This trade represents a 31.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Chirfi Guindo sold 20,000 shares of Merck & Co., Inc. stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $121.88, for a total value of $2,437,600.00. Following the transaction, the chief marketing officer owned 80,615 shares of the company's stock, valued at $9,825,356.20. The trade was a 19.88% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 320,176 shares of company stock valued at $38,281,735. 0.17% of the stock is currently owned by insiders.

Merck & Co., Inc. Stock Down 0.1%

Shares of Merck & Co., Inc. stock opened at $110.13 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.54 and a quick ratio of 1.30. The company has a 50-day moving average of $118.16 and a 200 day moving average of $107.35. The firm has a market cap of $272.00 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.23 and a beta of 0.26. Merck & Co., Inc. has a 1 year low of $73.31 and a 1 year high of $125.14.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.01 by $0.03. Merck & Co., Inc. had a net margin of 28.08% and a return on equity of 44.57%. The business had revenue of $16.40 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Merck & Co., Inc.'s quarterly revenue was up 5.0% on a year-over-year basis. Merck & Co., Inc. has set its FY 2026 guidance at 5.000-5.150 EPS. As a group, sell-side analysts anticipate that Merck & Co., Inc. will post 4.89 earnings per share for the current fiscal year.

Merck & Co., Inc. News Roundup

Here are the key news stories impacting Merck & Co., Inc. this week:

• Positive Sentiment: Regulatory clearance for Terns deal and pipeline news — Merck reported the Hart‑Scott‑Rodino waiting period expired for its Terns Pharmaceuticals acquisition, and the company highlighted CADENCE proof‑of‑concept data for Winrevair plus European approval of ENFLONSIA for infant RSV prevention, all of which strengthen growth options beyond oncology. Merck Advances Terns Deal And Cardiovascular And RSV Growth Options
• Positive Sentiment: Analyst previews point to an earnings beat probability — multiple Zacks pieces and a Seeking Alpha note emphasize Merck’s history of beats and favorable positioning (Keytruda/Winrevair) heading into Q1, which can lift sentiment if results confirm expectations. Will Merck (MRK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Addressable oncology growth remains visible — market coverage of the peripheral T‑cell lymphoma treatment market cites KEYTRUDA among leading therapies, underlining ongoing demand for Merck’s oncology franchise. Peripheral T-Cell Lymphoma Market to Witness Significant Expansion
• Neutral Sentiment: HPV market growth report — an industry report highlights strong vaccine adoption and R&D in HPV, naming Merck as a key player; long‑term upside for vaccine sales but limited immediate stock impact. Human Papillomavirus Market Research Report 2025-2035
• Neutral Sentiment: Inclusion in industrial market reports (bulk filtration) — Merck appears as an industry participant in filtration market analyses, reflecting exposure to industrial trends but not a near‑term stock driver. Bulk Filtration Market Report 2026
• Neutral Sentiment: Corporate PR / awareness program — Merck’s "Playing with Heart" campaign with baseball teams raises LDL‑C awareness (brand/engagement benefit) but is unlikely to move fundamentals. Merck's Playing with Heart Program Teams Up With Professional Baseball Clubs
• Neutral Sentiment: Sector M&A noise — Sun Pharma’s acquisition of Organon highlights active pharma M&A but doesn’t directly change Merck’s fundamentals; watch for broader valuation/strategic ripple effects. Organon Agrees to Be Acquired by Sun Pharmaceutical
• Negative Sentiment: Earnings uncertainty ahead of Q1 — some previews show a wide range of expectations and note headline metrics investors will focus on; any miss or weak guidance on Keytruda/other products could push the stock lower. Buy, Sell or Hold MRK Stock With Q1 Earnings Around the Corner?

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRK. Deutsche Bank Aktiengesellschaft upgraded shares of Merck & Co., Inc. from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Friday, February 13th. Citigroup raised their price objective on shares of Merck & Co., Inc. from $120.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 20th. Zacks Research raised Merck & Co., Inc. from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $142.00 target price on shares of Merck & Co., Inc. in a report on Monday, March 30th. Finally, Cantor Fitzgerald increased their target price on Merck & Co., Inc. from $116.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $128.47.

About Merck & Co., Inc.

Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.

Founded in the late 19th century as the U.S.

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