Bernstein Begins Coverage on Merck: A Look at Fund Sentiment
Fintel reports that on October 17, 2024, Bernstein initiated coverage of Merck (SNSE:MRKCL) with a Market Perform recommendation.
Analyzing Fund Sentiment Towards Merck
Currently, there are 5,087 funds and institutions reporting positions in Merck. This represents an increase of 28 shareholders or 0.55% compared to the previous quarter. The average portfolio weight for all funds holding MRKCL has risen to 0.74%, marking a substantial gain of 10.18%. Over the past three months, total shares owned by institutions grew by 3.55%, reaching 2,164,637K shares.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) currently holds 80,020K shares, representing 3.16% ownership of Merck. This is up from 79,658K shares previously, showcasing an increase of 0.45%. However, VTSMX has decreased its portfolio allocation in MRKCL by 8.35% over the last quarter.
Wellington Management Group LLP owns 72,482K shares, or 2.86% of the company, down from 86,348K shares. This reduction translates to a notable decrease of 19.13% in their holdings, while their portfolio allocation in MRKCL saw a staggering drop of 88.82% for the quarter.
Vanguard 500 Index Fund Investor Shares (VFINX) has 65,007K shares, accounting for 2.56% ownership. This is an increase from the prior 63,859K shares, which is an improvement of 1.77%. VFINX has also decreased its portfolio allocation in MRKCL by 9.59% over the last three months.
Geode Capital Management holds 57,021K shares, representing 2.25% ownership of Merck. They increased their holdings slightly from 56,411K shares, reflecting a 1.07% bump. Nevertheless, Geode has also reduced their MRKCL portfolio allocation significantly by 53.01% in the last quarter.
Bank of America possesses 39,280K shares for a 1.55% ownership stake, up from 36,012K shares, marking an 8.32% increase. Despite this rise, they cut back their portfolio allocation in MRKCL by 76.01% recently.
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This article originally appeared on Fintel.
The views and opinions expressed here are those of the author and do not necessarily reflect those of Nasdaq, Inc.
