Kornitzer Capital Management Inc. KS Raises Holdings in Merck & Co., Inc. $MRK

Kornitzer Capital Management Inc. KS increased its position in shares of Merck & Co., Inc. (NYSE:MRK) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 545,054 shares of the company’s stock after buying an additional 6,788 shares during the period. Merck & Co., Inc. comprises approximately 0.9% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 25th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Merck & Co., Inc. were worth $45,746,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC lifted its position in shares of Merck & Co., Inc. by 237.4% in the 3rd quarter. Darwin Wealth Management LLC now owns 307 shares of the company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Kilter Group LLC bought a new position in Merck & Co., Inc. in the second quarter worth approximately $27,000. Bare Financial Services Inc raised its stake in Merck & Co., Inc. by 51.9% in the second quarter. Bare Financial Services Inc now owns 366 shares of the company’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its holdings in Merck & Co., Inc. by 302.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 354 shares of the company’s stock worth $30,000 after buying an additional 266 shares during the period. Finally, Evolution Wealth Management Inc. bought a new stake in Merck & Co., Inc. during the 2nd quarter valued at $31,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Performance

Shares of Merck & Co., Inc. stock opened at $107.39 on Tuesday. The company has a 50 day moving average price of $104.22 and a 200 day moving average price of $91.28. The firm has a market capitalization of $266.54 billion, a P/E ratio of 14.19, a PEG ratio of 1.42 and a beta of 0.29. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $112.90.

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

Merck & Co., Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 15th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from Merck & Co., Inc.’s previous quarterly dividend of $0.81. Merck & Co., Inc.’s payout ratio is currently 44.91%.

Insider Transactions at Merck & Co., Inc.

In other Merck & Co., Inc. news, EVP David Michael Williams sold 8,614 shares of Merck & Co., Inc. stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $83.59, for a total transaction of $720,044.26. Following the completion of the sale, the executive vice president owned 24,578 shares of the company’s stock, valued at approximately $2,054,475.02. The trade was a 25.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on MRK shares. TD Cowen boosted their price target on Merck & Co., Inc. from $100.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Morgan Stanley lifted their target price on Merck & Co., Inc. from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Friday, December 12th. Wall Street Zen lowered shares of Merck & Co., Inc. from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. BMO Capital Markets upgraded shares of Merck & Co., Inc. from a “market perform” rating to an “outperform” rating and raised their price target for the company from $82.00 to $130.00 in a report on Thursday, December 18th. Finally, Wells Fargo & Company raised shares of Merck & Co., Inc. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $125.00 in a research report on Monday, November 24th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Merck & Co., Inc. currently has an average rating of “Hold” and an average target price of $114.20.

Merck & Co., Inc. 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.