RHL Group LLC Cuts Stake in Merck & Co., Inc. by 97.7%

RHL Group LLC has significantly reduced its stake in Merck & Co., Inc. (NYSE:MRK) over the second quarter, according to a recent 13F filing with the Securities and Exchange Commission.

The fund cut its position by an astonishing 97.7% during the period, selling off 21,497 shares of the company's stock. This left RHL Group LLC with just 500 shares, valued at $64,000 at the end of the most recent reporting period.

This significant reduction in stake comes as other institutional investors and hedge funds continue to increase their holdings in Merck & Co., Inc. Vanguard Group Inc., for example, lifted its position by 0.9% during the fourth quarter, owning a staggering 254,322,763 shares of the company's stock.

The company has seen several analysts raise their price targets following recent positive news, including Goldman Sachs increasing its target to $160 and BMO raising its target to $170. Morgan Stanley also upgraded the shares to Overweight with a $179 target after the cancer-trial success.