Gemmer Asset Management Increases Stake in Merck & Co. by 8.6%
Gemmer Asset Management LLC has raised its stake in **Merck & Co., Inc.** by **8.6%** during the second quarter of 2023, according to a filing with the U.S. Securities and Exchange Commission (SEC). The investment firm now holds **5,011 shares** of Merck’s stock, having acquired an additional **395 shares** in that timeframe. As per the latest SEC filing, the value of Gemmer’s holdings in Merck stands at approximately **$397,000**.
In addition to Gemmer Asset Management, several other institutional investors have adjusted their positions in Merck recently. **Legend Financial Advisors Inc.** entered a new investment in Merck during the second quarter, valued at around **$25,000**. Similarly, **Barnes Dennig Private Wealth Management LLC** acquired a stake worth **$27,000** in the first quarter. Notably, **CBIZ Investment Advisory Services LLC** increased its shares by an impressive **141.7%**, bringing its total to **377 shares**, valued at **$34,000** after purchasing **221 additional shares**. Other new investments include those from **MorganRosel Wealth Management LLC** and **MJT & Associates Financial Advisory Group Inc.**, with respective stakes worth **$36,000** and **$48,000**. Institutional investors now collectively own **76.07%** of Merck’s stock.
Merck & Co. Stock Performance and Dividends
As of the latest trading session, Merck’s stock opened at **$89.25**. Over the past year, the stock has fluctuated significantly, reaching a low of **$73.31** and a high of **$111.58**. Key financial ratios include a current ratio of **1.42**, a quick ratio of **1.17**, and a debt-to-equity ratio of **0.69**. The company boasts a market capitalization of **$222.93 billion**, with a price-to-earnings ratio of **13.75** and a price-to-earnings-growth ratio of **0.92**. The stock has a **50-day moving average** price of **$82.87** and a **200-day moving average** price of **$81.61**.
Merck has also announced a quarterly dividend of **$0.81**, set to be paid on **October 7, 2023**. Shareholders who are on record as of **September 15, 2023**, will be eligible for this dividend. This payout translates to an annualized dividend of **$3.24**, providing a yield of **3.6%**. The company’s dividend payout ratio is currently at **49.92%**.
Analyst Ratings and Future Outlook
A number of equity research analysts have recently provided insights on Merck’s stock. Notably, **Morgan Stanley** reduced its price target from **$99.00** to **$98.00** while maintaining an “equal weight” rating. **Weiss Ratings** affirmed a “hold (C-)” rating for Merck, reflecting a cautious outlook. Additionally, **Berenberg Bank** downgraded its rating from “buy” to “hold,” adjusting its price objective from **$100.00** to **$90.00**. Similarly, **Wells Fargo & Company** lowered its target from **$97.00** to **$90.00**, reiterating an “equal weight” rating.
Currently, one analyst rates Merck’s stock as a Strong Buy, while six have issued Buy ratings. Fourteen analysts maintain a Hold rating, and one has a Sell rating. The consensus recommendation for the stock is “Hold,” with an average price target of **$106.41**, according to data from MarketBeat.
Merck & Co., Inc. is a global healthcare company focused on providing health solutions through its diverse portfolio of prescription medicines, vaccines, biologic therapies, animal health products, and consumer care solutions. The company operates in three primary segments: Pharmaceutical, Animal Health, and Other, with the Pharmaceutical segment encompassing human health and vaccine products.
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