KLP Kapitalforvaltning AS Purchases 44,100 Shares of Merck & Co., Inc. $MRK

KLP Kapitalforvaltning AS lifted its position in Merck & Co., Inc. (NYSE:MRK) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,324,170 shares of the company’s stock after acquiring an additional 44,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Merck & Co., Inc. were worth $112,020,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Merck & Co., Inc. by 29.5% during the fourth quarter. Brighton Jones LLC now owns 38,278 shares of the company’s stock valued at $3,808,000 after buying an additional 8,710 shares during the last quarter. Scientech Research LLC purchased a new position in Merck & Co., Inc. during the 1st quarter valued at $794,000. Fred Alger Management LLC boosted its holdings in Merck & Co., Inc. by 378.5% during the 1st quarter. Fred Alger Management LLC now owns 45,450 shares of the company’s stock valued at $4,115,000 after acquiring an additional 35,952 shares during the period. Faithward Advisors LLC grew its position in Merck & Co., Inc. by 3.2% in the 1st quarter. Faithward Advisors LLC now owns 9,074 shares of the company’s stock valued at $814,000 after acquiring an additional 278 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in Merck & Co., Inc. in the first quarter worth $285,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Up 1.4%

MRK stock opened at $108.98 on Wednesday. The stock has a market capitalization of $270.48 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.10 and a beta of 0.29. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $110.17. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $98.18 and a 200 day moving average of $88.48.

Merck & Co., Inc. (NYSE:MRK) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.14). Merck & Co., Inc. had a return on equity of 44.54% and a net margin of 29.63%. Sell-side analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 15th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, December 15th. Merck & Co., Inc.’s payout ratio is currently 44.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MRK shares. Berenberg Bank downgraded Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $100.00 to $90.00 in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Merck & Co., Inc. from $110.00 to $111.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Citigroup initiated coverage on Merck & Co., Inc. in a research note on Monday, October 13th. They issued a “neutral” rating and a $95.00 price objective on the stock. Wells Fargo & Company upgraded Merck & Co., Inc. from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $125.00 in a report on Monday, November 24th. Finally, Scotiabank upped their target price on Merck & Co., Inc. from $105.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 4th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $110.13.

Insider Activity

In other news, EVP David Michael Williams sold 8,614 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $83.59, for a total value of $720,044.26. Following the completion of the sale, the executive vice president directly owned 24,578 shares in the company, valued at $2,054,475.02. The trade was a 25.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by insiders.

Merck & Co., Inc. Company Profile

Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.

Founded in the late 19th century as the U.S.