Meridian Wealth Management LLC Sells 38,263 Shares of Sanofi $SNY

Meridian Wealth Management LLC reduced its stake in shares of Sanofi (NASDAQ:SNY) by 84.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,278 shares of the company’s stock after selling 38,263 shares during the quarter. Meridian Wealth Management LLC’s holdings in Sanofi were worth $353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. grew its stake in shares of Sanofi by 81.3% during the second quarter. Raymond James Financial Inc. now owns 5,879,894 shares of the company’s stock valued at $284,058,000 after buying an additional 2,635,867 shares during the last quarter. Mondrian Investment Partners LTD bought a new position in shares of Sanofi during the third quarter valued at about $171,742,000. Natixis Advisors LLC grew its stake in shares of Sanofi by 11.8% during the third quarter. Natixis Advisors LLC now owns 3,113,381 shares of the company’s stock valued at $146,952,000 after buying an additional 327,569 shares during the last quarter. Equity Investment Corp grew its stake in shares of Sanofi by 3.0% during the third quarter. Equity Investment Corp now owns 2,587,690 shares of the company’s stock valued at $122,139,000 after buying an additional 75,255 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Sanofi by 19.4% during the third quarter. American Century Companies Inc. now owns 2,338,969 shares of the company’s stock valued at $110,399,000 after buying an additional 379,784 shares during the last quarter. 14.03% of the stock is owned by institutional investors.

Sanofi Stock Down 0.4%

NASDAQ SNY opened at $42.69 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.01 and a quick ratio of 0.22. The stock has a market capitalization of $104.12 billion, a PE ratio of 11.92, a PEG ratio of 1.06 and a beta of 0.35. Sanofi has a 1 year low of $42.33 and a 1 year high of $53.36. The business’s 50-day moving average is $45.60 and its 200 day moving average is $47.46.

Sanofi Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Monday, May 4th will be issued a $2.4225 dividend. This represents a yield of 559.0%. This is a boost from Sanofi’s previous annual dividend of $2.04. The ex-dividend date is Monday, May 4th. Sanofi’s dividend payout ratio (DPR) is 49.44%.

Wall Street Analysts Forecast Growth

SNY has been the topic of several recent analyst reports. Weiss Ratings raised Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Bank of America cut Sanofi from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. Wall Street Zen cut Sanofi from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Morgan Stanley set a $52.00 target price on Sanofi in a research note on Friday, May 1st. Finally, BNP Paribas Exane cut Sanofi from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.00.

Sanofi Profile

Sanofi (NASDAQ:SNY) is a multinational pharmaceutical company headquartered in France that researches, develops, manufactures and markets prescription medicines, vaccines and consumer healthcare products. The company operates across multiple therapeutic areas, including immunology, rare diseases, oncology, cardiovascular and metabolic diseases, and vaccines through its Sanofi Pasteur division. Sanofi sells products to hospitals, clinics, governments and retail pharmacies, with a broad global footprint and significant presence in Europe, North America and emerging markets.

Key commercial offerings include specialty biologics and established small-molecule medicines.