MassMutual Reduces Merck Stake as Insiders Sell Shares
MassMutual Private Wealth & Trust FSB reduced its stake in Merck & Co., Inc. (NYSE: MRK) by 6.9% during the third quarter. The institutional investor sold 10,415 shares, leaving it with 140,363 shares valued at $20,396,000. Other institutional investors also adjusted their positions in Merck, with Polaris Financial Partners acquiring a new stake worth $66,000, Versant Capital Management Inc. increasing its holdings by 1.5%, and Stonebridge Financial Group LLC boosting its position by 1.7%. Envestnet Portfolio Solutions Inc. and Envestnet Asset Management Inc. also significantly increased their stakes in the company.
Insider activity at Merck included notable sales by executive vice presidents. David Williams sold 52,847 shares on August 5th at an average price of $128.77, reducing his ownership by 62.49%. David Maraldo sold 18,706 shares on the same day at $128.72, decreasing his ownership by 50.67%. In total, insiders sold 228,238 shares valued at $29,977,783 in the last quarter, leaving them with 0.17% ownership of the stock.
Merck's stock opened at $144.24 on Monday, with a market capitalization of $355.85 billion. The company reported earnings of ($0.13) per share for the quarter, beating estimates, and revenue of $16.61 billion, up 5.1% year-over-year. Merck has set its FY 2026 guidance at 2.660-2.760 EPS. The company also declared a quarterly dividend of $0.85, payable on October 7th, representing a 2.4% yield.
Analysts have given Merck a "Moderate Buy" rating with an average price target of $145.76. HSBC, Jefferies Financial Group, and Goldman Sachs have all raised their price targets, with the highest at $175.00. Sixteen analysts rated the stock as a "Buy" and eleven as a "Hold".