5 Stocks US Congressmen Are Selling

In this article, we discuss 5 stocks US Congressmen are selling. If you want to see some more stocks in this selection, click 10 Stocks US Congressmen Are Selling.

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

Number of Hedge Fund Holders: 80

Merck & Co., Inc. (NYSE:MRK) is an American healthcare company that provides pharmaceutical drugs and animal health products. Robert Wittman, the U.S. representative for Virginia’s 1st congressional district, sold shares of Merck & Co., Inc. (NYSE:MRK) valued at between $1,001 and $15,000. The transaction was disclosed on March 3. 

JPMorgan analyst Chris Schott lowered the price target on Merck & Co., Inc. (NYSE:MRK) to $95 from $100 and kept an Overweight rating on the shares on January 28, ahead of the company’s Q4 results. He does not expect any big surprises with the 2022 guidance based on the positive momentum he is seeing in Merck & Co., Inc. (NYSE:MRK)’s primary business.

According to the fourth quarter database of Insider Monkey, 80 hedge funds were long Merck & Co., Inc. (NYSE:MRK), up from 77 funds in the preceding quarter. Fisher Asset Management is the leading shareholder of the company, with 11.40 million shares worth $874.4 million. 

Here is what Miller Howard Investments had to say about Merck & Co., Inc. (NYSE:MRK) in its Q3 2021 investor letter:

“While optimistic about a recovery, we continue to balance our cyclical holdings with dividend-payers in stable, less economically-sensitive industries. We hold three pharmaceutical companies, (which includes) Merck (MRK). All three have strong cash flows and balance sheets, making their high dividends reasonably safe. The investment controversy surrounding these pharma companies is whether they can develop or acquire new products to replace their current blockbuster drugs. The low valuations on these stocks reflects what we believe to be undue pessimism by investors on the prospects for new drugs.”