Amplius Wealth Advisors LLC has significantly boosted its investment in Merck & Co., Inc. (NYSE: MRK) by increasing its stake by 117.4% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), Amplius now holds 6,165 shares of Merck, having acquired an additional 3,329 shares during the quarter. The total value of Amplius’s holdings in the pharmaceutical giant was approximately $488,000 at the end of the quarter.
This move by Amplius follows a trend among institutional investors, with several other firms also adjusting their positions in Merck. For instance, Legend Financial Advisors Inc. entered the market with a new stake valued at $25,000 in the second quarter. CBIZ Investment Advisory Services LLC expanded its holdings by 141.7% during the first quarter, now owning 377 shares worth $34,000 after purchasing an additional 221 shares. Advantage Trust Co. and Chung Wu Investment Group LLC also enhanced their positions, with Advantage Trust acquiring 200 shares worth around $44,000 and Chung Wu investing approximately $45,000.
As of now, institutional investors and hedge funds collectively own 76.07% of Merck’s stock, reflecting strong confidence in the company’s performance.
Current Market Performance and Analyst Insights
Merck’s stock has shown a slight decline of 0.3%, opening at $86.30 on Friday. The company has a market capitalization of $215.56 billion and a price-to-earnings ratio of 13.30. Over the past year, the stock has reached a low of $73.31 and a high of $105.07. Analysts have noted a 50-day moving average price of $84.59 and a 200-day moving average price of $81.75.
Market analysts have shared mixed opinions regarding Merck’s outlook. Citigroup recently initiated coverage with a “neutral” rating and set a price target of $95.00. Meanwhile, Berenberg Bank downgraded its recommendation from “buy” to “hold,” reducing its price target from $100.00 to $90.00. Morgan Stanley also adjusted its target to $98.00 while maintaining an “equal weight” rating.
Overall, the consensus among analysts is a “Hold” rating, with a consensus price target of $104.33, highlighting a cautious but positive outlook for Merck.
About Merck & Co., Inc.
Merck & Co., Inc. is a leading global health care company known for providing a range of health solutions through its diverse portfolio, which includes prescription medicines, vaccines, biologic therapies, and consumer care products. The company operates through several segments, including Pharmaceutical and Animal Health. The Pharmaceutical segment focuses primarily on human health products, underscoring Merck’s commitment to advancing medical science and improving patient outcomes.
As the market continues to evolve, the strategic moves by institutional investors reflect a broader confidence in Merck’s potential for growth and innovation in the health care sector.
