Burt Wealth Advisors has reduced its holdings in Merck & Co., Inc. (NYSE: MRK) by 5% during the second quarter of 2023, according to the firm’s latest 13F filing with the Securities and Exchange Commission (SEC). The advisory firm now owns 3,543 shares of Merck after selling 186 shares during this period, with the total value of the investment amounting to approximately $280,000.
Other institutional investors have also been active in altering their positions in Merck. For instance, Vanguard Group Inc. increased its stake by 0.6% in the first quarter, now holding 252,513,381 shares valued at around $22.67 billion after acquiring an additional 1,417,274 shares. Similarly, Wellington Management Group LLP raised its holdings by 1.1%, bringing its total to 81,669,651 shares worth about $7.33 billion.
Charles Schwab Investment Management Inc. made a significant move, increasing its holdings by 144.6% in the first quarter, leading to ownership of 49,229,283 shares valued at approximately $4.42 billion. UBS Asset Management also expanded its stake by 21.4%, now holding 21,547,758 shares worth around $2.14 billion. Amundi, another notable investor, increased its holdings by 37.1%, amassing 13,077,716 shares valued at approximately $1.13 billion. Institutional investors collectively own 76.07% of Merck’s stock.
Merck’s Stock Performance and Dividend Announcement
On October 4, 2023, Merck’s stock opened at $81.07, with the share price fluctuating between a one-year low of $73.31 and a high of $119.38. The company’s market capitalization stands at $202.50 billion, with a price-to-earnings (P/E) ratio of 12.49 and a beta of 0.37. Merck’s financial stability is further demonstrated by a debt-to-equity ratio of 0.69, alongside a quick ratio of 1.17 and a current ratio of 1.42.
Merck also recently declared a quarterly dividend of $0.81, set to be paid on October 7, 2023, to shareholders on record by September 15, 2023. This dividend reflects an annualized payout of $3.24, yielding 4.0%. The company maintains a dividend payout ratio (DPR) of 49.92%.
Analysts’ Insights and Future Projections
Several research firms have recently assessed Merck’s performance. Cantor Fitzgerald downgraded the company from an “overweight” to a “cautious” rating on May 20, 2023. Morgan Stanley adjusted its target price from $99.00 to $98.00 while maintaining an “equal weight” rating, as reported on July 10, 2023. Wells Fargo & Company also lowered their target price from $97.00 to $90.00 with an “equal weight” rating on July 30, 2023.
Current data from MarketBeat indicates that Merck has garnered a consensus rating of “Hold” from analysts, with a consensus price target of $107.44. Among analysts, there is one Strong Buy rating, six Buy ratings, twelve Hold ratings, and one Sell rating currently assigned to the stock.
Merck & Co., Inc. is a prominent health care company that provides a wide array of health solutions, including prescription medicines, vaccines, biologic therapies, animal health products, and consumer care items. The company operates through various segments, focusing primarily on pharmaceuticals and animal health.
