Convergence Investment Partners LLC Sells 7,516 Shares of Merck & Co., Inc. (NYSE:MRK)

Convergence Investment Partners LLC reduced its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 32.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,523 shares of the company’s stock after selling 7,516 shares during the quarter. Convergence Investment Partners LLC’s holdings in Merck & Co., Inc. were worth $1,544,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Life Planners bought a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of Merck & Co., Inc. during the third quarter valued at approximately $32,000. AM Squared Ltd bought a new stake in shares of Merck & Co., Inc. during the third quarter valued at approximately $34,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Merck & Co., Inc. during the third quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Merck & Co., Inc. during the third quarter valued at approximately $36,000. 76.07% of the stock is owned by institutional investors.

Merck & Co., Inc. Stock Up 0.3 %

Merck & Co., Inc. stock opened at $83.25 on Wednesday. The firm has a market capitalization of $210.60 billion, a PE ratio of 12.37, a P/E/G ratio of 0.71 and a beta of 0.38. The company’s 50-day moving average is $96.26 and its 200-day moving average is $104.62. Merck & Co., Inc. has a fifty-two week low of $81.04 and a fifty-two week high of $134.63. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.15.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.13). The firm had revenue of $15.62 billion for the quarter, compared to analyst estimates of $15.51 billion. Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Sell-side analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Monday, March 17th. Merck & Co., Inc.’s payout ratio is 48.14%.

Merck & Co., Inc. announced that its board has initiated a share buyback plan on Tuesday, January 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Merck & Co., Inc. from $125.00 to $110.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. UBS Group cut their price objective on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Citigroup cut their price objective on shares of Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Morgan Stanley cut their price objective on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Guggenheim cut their price objective on shares of Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.39.

Insider Buying and Selling

In related news, Director Inge G. Thulin bought 2,833 shares of Merck & Co., Inc. stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average price of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. This represents a 2,833.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cristal N. Downing sold 2,361 shares of Merck & Co., Inc. stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $88.76, for a total transaction of $209,562.36. Following the sale, the insider now directly owns 7,085 shares of the company’s stock, valued at $628,864.60. The trade was a 24.99 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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.