Merck & Co., Inc. (NYSE:MRK) Shares Purchased by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management increased its stake in Merck & Co., Inc. by 66.6%, holding 45,248 shares valued at approximately $4.06 million.
• Merck recently reported an earnings per share (EPS) of $2.22, surpassing expectations, but year-over-year revenue declined by 1.6%.
• The company declared a quarterly dividend of $0.81 per share, providing an annual yield of 3.82% with a payout ratio of 47.16%.

Neo Ivy Capital Management grew its position in Merck & Co., Inc. (NYSE:MRK - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,248 shares of the company's stock after purchasing an additional 18,083 shares during the period. Merck & Co., Inc. makes up approximately 1.3% of Neo Ivy Capital Management's holdings, making the stock its 8th biggest position. Neo Ivy Capital Management's holdings in Merck & Co., Inc. were worth $4,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Merck & Co., Inc. by 29.5% in the 4th quarter. Brighton Jones LLC now owns 38,278 shares of the company's stock worth $3,808,000 after acquiring an additional 8,710 shares during the period. American Assets Inc. acquired a new stake in Merck & Co., Inc. during the fourth quarter valued at approximately $398,000. Modern Wealth Management LLC lifted its stake in Merck & Co., Inc. by 44.0% during the fourth quarter. Modern Wealth Management LLC now owns 11,858 shares of the company's stock valued at $1,180,000 after purchasing an additional 3,623 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its stake in Merck & Co., Inc. by 98.5% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 7,558 shares of the company's stock valued at $752,000 after purchasing an additional 3,751 shares during the last quarter. Finally, Foundation Wealth Management LLC PA acquired a new stake in Merck & Co., Inc. during the fourth quarter valued at approximately $521,000. Institutional investors own 76.07% of the company's stock.

Wall Street Analysts Forecast Growth

MRK has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. Guggenheim restated a "buy" rating and set a $115.00 price target on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Morgan Stanley cut their price target 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. Cantor Fitzgerald lowered shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research note on Tuesday, May 20th. Finally, Citigroup reiterated a "neutral" rating and issued a $84.00 price objective (down previously from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Merck & Co., Inc. has an average rating of "Hold" and a consensus price target of $108.69.

Merck & Co., Inc. Stock Performance

Merck & Co., Inc. stock traded up $0.71 during mid-day trading on Friday, reaching $84.82. The company had a trading volume of 10,057,745 shares, compared to its average volume of 14,316,467. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $128.73. The company has a 50 day moving average of $80.03 and a 200-day moving average of $85.30. The firm has a market cap of $212.98 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.88 and a beta of 0.39.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.06. Merck & Co., Inc. had a net margin of 27.27% and a return on equity of 43.23%. The company had revenue of $15.53 billion during the quarter, compared to analysts' expectations of $15.59 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The business's revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Investors 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 dividend yield of 3.82%. The ex-dividend date is Monday, September 15th. Merck & Co., Inc.'s dividend payout ratio (DPR) is currently 47.16%.

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.