5 Best Psychedelic Stocks to Buy

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

Number of Hedge Fund Holders: 85

Merck & Co., Inc. (NYSE:MRK) is a distinguished American multinational pharmaceutical company with its headquarters in Rahway, New Jersey. Originally part of the Merck Group established in Germany in 1668, it retains the name of its former parent company. Operating as Merck Sharp & Dohme or MSD outside the United States and Canada, the company holds a prominent position in the pharmaceutical industry, specializing in the development of medicines, vaccines, biologic therapies, and animal health products.

Showcasing a consistent pattern of dividend growth for 11 consecutive years, the company currently provides a quarterly dividend of $0.77 per share, resulting in a dividend yield of 2.91% as of December 13.

Insider Monkey delved into the investment activities of 910 hedge funds in the third quarter of 2023, revealing that 85 had invested in Merck & Co., Inc. (NYSE:MRK), marking an increase from 78 in the previous quarter.