Rafferty Asset Management LLC Sells 52,722 Shares of Merck & Co., Inc. $MRK

Key Points

• Rafferty Asset Management LLC sold 52,722 shares of Merck & Co., Inc., reducing their stake by 18.2%, leaving them with 237,712 shares valued at approximately $21.34 million.
• Other institutional investors made significant adjustments to their positions, with Charles Schwab Investment Management Inc. increasing its stake by 144.6%, now owning over 49 million shares valued at $4.42 billion.
• Merck's stock is currently priced at $85.14, with analysts forecasting earnings per share of 9.01 for the current year and a quarterly dividend of $0.81 set to be paid on October 7th.

Rafferty Asset Management LLC decreased its stake in Merck & Co., Inc. (NYSE:MRK - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,712 shares of the company's stock after selling 52,722 shares during the period. Rafferty Asset Management LLC's holdings in Merck & Co., Inc. were worth $21,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position 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 period. Nuveen LLC acquired a new position in shares of Merck & Co., Inc. in the 1st quarter worth approximately $991,553,000. Pacer Advisors Inc. boosted its stake in shares of Merck & Co., Inc. by 2,240.9% in the 1st quarter. Pacer Advisors Inc. now owns 5,286,801 shares of the company's stock valued at $474,543,000 after purchasing an additional 5,060,959 shares during the last quarter. GAMMA Investing LLC increased 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 worth $388,880,000 after buying an additional 4,289,516 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Merck & Co., Inc. by 21.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,547,758 shares of the company's stock worth $2,143,571,000 after buying an additional 3,791,737 shares during the period. 76.07% of the stock is owned by institutional investors and hedge funds.

Merck & Co., Inc. Stock Performance

Shares of MRK opened at $85.14 on Wednesday. The stock has a 50 day moving average of $81.86 and a 200 day moving average of $83.03. The company has a market capitalization of $212.66 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.90 and a beta of 0.38. Merck & Co., Inc. has a 12 month low of $73.31 and a 12 month high of $120.30. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $15.92 billion. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. As a group, sell-side analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be given a $0.81 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.24 annualized dividend and a yield of 3.8%. Merck & Co., Inc.'s payout ratio is currently 49.92%.

Wall Street Analysts Forecast Growth

MRK has been the topic of several recent analyst reports. Morgan Stanley dropped 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 report on Thursday, July 10th. Wells Fargo & Company lowered their price objective on Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 30th. Cantor Fitzgerald lowered Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. Finally, Citigroup reaffirmed a "neutral" rating and set a $84.00 target price (down previously from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Merck & Co., Inc. has a consensus 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.

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