Allspring Global Investments Holdings LLC Purchases 147,220 Shares of Merck & Co., Inc. $MRK

Allspring Global Investments Holdings LLC boosted its position in shares of Merck & Co., Inc. (NYSE:MRK) by 32.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 595,539 shares of the company’s stock after purchasing an additional 147,220 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Merck & Co., Inc. were worth $53,676,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Darwin Wealth Management LLC raised its stake in Merck & Co., Inc. by 237.4% during the 3rd quarter. Darwin Wealth Management LLC now owns 307 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the period. Legend Financial Advisors Inc. bought a new stake in shares of Merck & Co., Inc. in the second quarter worth about $25,000. Kilter Group LLC bought a new stake in shares of Merck & Co., Inc. in the second quarter worth about $27,000. Bare Financial Services Inc raised its position in shares of Merck & Co., Inc. by 51.9% during the second quarter. Bare Financial Services Inc now owns 366 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares during the period. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of Merck & Co., Inc. by 141.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company’s stock worth $34,000 after purchasing an additional 221 shares during the period. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David Michael Williams sold 8,614 shares of the 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 owned 24,578 shares of the company’s stock, valued at approximately $2,054,475.02. This represents a 25.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Merck & Co., Inc. in a research note on Monday. Wells Fargo & Company upgraded shares of Merck & Co., Inc. from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $90.00 to $125.00 in a report on Monday, November 24th. Wall Street Zen raised shares of Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 8th. BMO Capital Markets raised shares of Merck & Co., Inc. from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $82.00 to $130.00 in a research report on Thursday, December 18th. Finally, Berenberg Bank lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $100.00 to $90.00 in a research note on Wednesday, September 17th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $110.13.

Merck & Co., Inc. Stock Down 0.8%

Shares of MRK stock opened at $105.20 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. Merck & Co., Inc. has a 1 year low of $73.31 and a 1 year high of $107.59. The firm’s fifty day moving average price is $96.98 and its two-hundred day moving average price is $87.76. The firm has a market capitalization of $261.11 billion, a P/E ratio of 13.90, a PEG ratio of 1.00 and a beta of 0.29.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings data on Friday, January 30th. The company reported $1.94 EPS for the quarter. Merck & Co., Inc. had a net margin of 29.63% and a return on equity of 44.54%. On average, equities analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 15th will be given a dividend of $0.85 per share. This is a positive change from Merck & Co., Inc.’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.40 annualized dividend and a dividend yield of 3.2%. Merck & Co., Inc.’s payout ratio is presently 44.91%.

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.