Westpac Banking Corp Has $12.26 Million Holdings in Merck & Co., Inc. (NYSE:MRK)

Westpac Banking Corp increased its position in Merck & Co., Inc. (NYSE:MRK) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,235 shares of the company’s stock after purchasing an additional 20,491 shares during the period. Merck & Co., Inc. makes up 0.8% of Westpac Banking Corp’s investment portfolio, making the stock its 20th largest holding. Westpac Banking Corp’s holdings in Merck & Co., Inc. were worth $12,259,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MRK. Midwest Capital Advisors LLC acquired a new position in shares of Merck & Co., Inc. during the fourth quarter valued at about $26,000. Financial Life Planners acquired a new position in Merck & Co., Inc. during the 4th quarter valued at about $28,000. Noble Wealth Management PBC bought a new stake in Merck & Co., Inc. during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Merck & Co., Inc. in the fourth quarter worth approximately $28,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Merck & Co., Inc. in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

Merck & Co., Inc. Stock Down 0.6 %

Shares of NYSE:MRK opened at $86.61 on Thursday. The firm has a fifty day moving average price of $91.39 and a two-hundred day moving average price of $99.53. The company has a market cap of $218.78 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.77 and a beta of 0.40. 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. has a one year low of $81.04 and a one year high of $134.63.

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

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

Merck & Co., Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is currently 48.14%.

Insider Buying and Selling

In other news, Director Inge G. Thulin acquired 2,833 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average cost of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now owns 2,933 shares in the company, valued at approximately $258,837.25. This represents a 2,833.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cristal N. Downing sold 2,361 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $88.76, for a total value of $209,562.36. Following the completion of the sale, the insider now 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 owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRK. TD Cowen lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the company from $121.00 to $100.00 in a research report on Monday, February 10th. UBS Group lowered their target price on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Bank of America cut their price target on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Citigroup dropped their target price on shares of Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, HSBC upgraded Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.12.

Merck & Co., Inc. Company 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.