5 Safest Stocks To Invest In

3. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 85

Beta Value: 0.36

Merck & Co., Inc. (NYSE:MRK), a renowned American multinational pharmaceutical company headquartered in Rahway, New Jersey, traces its roots back to the Merck Group, founded in Germany in 1668. Originally the American arm of this historic group, the company operates under the names Merck Sharp & Dohme or MSD outside the United States and Canada. It holds a prominent position in the pharmaceutical industry, specializing in the development of medicines, vaccines, biologic therapies, and animal health products.

Demonstrating financial stability, Merck & Co., Inc. (NYSE:MRK) has sustained a streak of dividend growth for 11 consecutive years. As of November 20, the company offers a quarterly dividend of $0.73 per share, yielding 2.86%.

Insider Monkey dug through 910 hedge funds for their third quarter of 2023 investments to discover that 85 had invested in Merck & Co., Inc. (NYSE:MRK), up from 78 in the previous quarter.

Carillon Eagle Growth & Income Fund made the following comment about Merck & Co., Inc. (NYSE:MRK) in its Q2 2023 investor letter:

“Merck & Co., Inc. (NYSE:MRK) presented positive clinical data for a new drug in its oncology pipeline, announced an acquisition that was viewed favorably by investors, and reported strong first-quarter financial results while also increasing its earnings guidance for 2023.”