BlackRock Boosts Stake in Merck & Co., Inc.
BlackRock Inc., one of the largest institutional investors in the world, has increased its stake in Merck & Co., Inc. (NYSE:MRK) by 0.5% during the second quarter. According to the company's most recent disclosure with the SEC, BlackRock owned 226,999,837 shares of Merck's stock after purchasing an additional 1,073,507 shares during this period.
The acquisition brought BlackRock's ownership stake in Merck to 9.19%, valuing its holdings at $29,169,479,000. This is not the only institutional investor that has increased its stake in Merck recently; several other hedge funds and financial institutions have also bought more shares of the company.
Analysts are optimistic about Merck's future prospects, citing positive topline results from its vaccine candidate and raised expectations for revenue growth. Several analysts, including Daiwa Securities Group and Morgan Stanley, have upgraded their price targets for Merck's stock in recent weeks.