Element Wealth LLC Sells 663 Shares of Merck & Co., Inc. (NYSE:MRK)

by · The Cerbat Gem

Element Wealth LLC lowered its position in Merck & Co., Inc. (NYSE:MRK – Free Report) by 14.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,851 shares of the company’s stock after selling 663 shares during the quarter. Element Wealth LLC’s holdings in Merck & Co., Inc. were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Merck & Co., Inc. in the second quarter valued at $39,000. Abich Financial Wealth Management LLC boosted its stake in Merck & Co., Inc. by 121.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 326 shares of the company’s stock worth $40,000 after purchasing an additional 179 shares during the period. Quarry LP purchased a new position in Merck & Co., Inc. during the 2nd quarter valued at about $42,000. Strategic Financial Concepts LLC grew its holdings in Merck & Co., Inc. by 1,475.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 35,057 shares of the company’s stock valued at $43,000 after buying an additional 32,832 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Merck & Co., Inc. by 47.5% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 379 shares of the company’s stock valued at $43,000 after buying an additional 122 shares during the period. 76.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Merck & Co., Inc. from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Evercore ISI upgraded Merck & Co., Inc. to a “strong-buy” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their price target on Merck & Co., Inc. from $132.00 to $134.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Barclays decreased their price objective on shares of Merck & Co., Inc. from $142.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, Wells Fargo & Company dropped their target price on shares of Merck & Co., Inc. from $140.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.62.

View Our Latest Stock Report on Merck & Co., Inc.

Merck & Co., Inc. Trading Down 0.5 %

Shares of MRK stock opened at $105.88 on Friday. The business has a 50-day moving average of $113.86 and a 200 day moving average of $121.93. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.47 and a quick ratio of 1.22. Merck & Co., Inc. has a 1-year low of $99.80 and a 1-year high of $134.63. The stock has a market capitalization of $268.17 billion, a PE ratio of 19.64, a P/E/G ratio of 1.52 and a beta of 0.39.

Merck & Co., Inc. (NYSE:MRK – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. Merck & Co., Inc. had a return on equity of 40.69% and a net margin of 21.99%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.87 billion. During the same quarter in the prior year, the firm posted ($2.06) earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Merck & Co., Inc. will post 7.8 earnings per share for the current year.

About Merck & Co., Inc.

(Free Report)

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.

Featured Stories