Sumitomo Life Insurance Co. Reduces Position in Merck & Co., Inc. (NYSE:MRK)

Sumitomo Life Insurance Co. decreased its position in Merck & Co., Inc. (NYSE:MRK) by 70.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,138 shares of the company’s stock after selling 63,656 shares during the period. Sumitomo Life Insurance Co.’s holdings in Merck & Co., Inc. were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new position in Merck & Co., Inc. during the 3rd quarter worth approximately $32,000. AM Squared Ltd acquired a new stake in shares of Merck & Co., Inc. in the third quarter worth $34,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Merck & Co., Inc. during the third quarter worth $34,000. Peterson Financial Group Inc. acquired a new position in Merck & Co., Inc. during the third quarter valued at $36,000. Finally, Quarry LP purchased a new stake in Merck & Co., Inc. in the second quarter valued at $42,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Performance

NYSE:MRK opened at $97.49 on Wednesday. The company has a market cap of $246.62 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.13 and a beta of 0.39. Merck & Co., Inc. has a twelve month low of $94.48 and a twelve month high of $134.63. The company’s 50-day moving average price is $99.83 and its 200-day moving average price is $108.34. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79.

Merck & Co., Inc. (NYSE:MRK) last issued its earnings results on Thursday, October 31st. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.07. Merck & Co., Inc. had a return on equity of 36.42% and a net margin of 19.23%. The business had revenue of $16.66 billion for the quarter, compared to analysts’ expectations of $16.47 billion. During the same period in the previous year, the firm posted $2.13 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Merck & Co., Inc. will post 7.67 earnings per share for the current fiscal year.

Merck & Co., Inc. declared that its board has authorized a stock repurchase plan on Tuesday, January 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Merck & Co., Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.32%. Merck & Co., Inc.’s payout ratio is 67.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MRK shares. Leerink Partners decreased their price objective on Merck & Co., Inc. from $136.00 to $119.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Citigroup decreased their price target on Merck & Co., Inc. from $130.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday. Bank of America reaffirmed a “buy” rating and set a $121.00 price objective on shares of Merck & Co., Inc. in a research note on Tuesday, December 10th. Daiwa Capital Markets cut shares of Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, UBS Group dropped their price target on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Merck & Co., Inc. has an average rating of “Moderate Buy” and an average target price of $122.67.

Merck & Co., Inc. Profile

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.