DAVENPORT & Co LLC Reduces Stake in Sanofi (NASDAQ:SNY)

DAVENPORT & Co LLC trimmed its stake in Sanofi (NASDAQ:SNYFree Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,170,369 shares of the company’s stock after selling 31,657 shares during the quarter. DAVENPORT & Co LLC’s holdings in Sanofi were worth $58,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc boosted its stake in Sanofi by 15.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 7,067 shares of the company’s stock valued at $351,000 after acquiring an additional 948 shares during the last quarter. Five Oceans Advisors purchased a new position in Sanofi in the fourth quarter valued at about $235,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Sanofi by 76.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 15,532 shares of the company’s stock valued at $772,000 after buying an additional 6,737 shares in the last quarter. Caprock Group LLC lifted its stake in shares of Sanofi by 3.8% during the 4th quarter. Caprock Group LLC now owns 24,079 shares of the company’s stock valued at $1,197,000 after buying an additional 878 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Sanofi by 18.1% during the 4th quarter. Blue Trust Inc. now owns 6,967 shares of the company’s stock valued at $374,000 after buying an additional 1,068 shares in the last quarter. 10.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNY. StockNews.com cut shares of Sanofi from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut shares of Sanofi from an “overweight” rating to a “neutral” rating in a research note on Tuesday, December 5th. Morgan Stanley began coverage on shares of Sanofi in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $55.00 price target on the stock. Finally, TheStreet cut shares of Sanofi from a “b” rating to a “c” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.00.

Read Our Latest Report on Sanofi

Sanofi Price Performance

NASDAQ SNY traded down $0.59 on Tuesday, hitting $47.70. The stock had a trading volume of 1,305,567 shares, compared to its average volume of 1,838,017. Sanofi has a 52-week low of $42.63 and a 52-week high of $57.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 1.27. The company has a market capitalization of $120.66 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.80 and a beta of 0.61. The firm has a 50-day moving average of $47.98 and a 200-day moving average of $49.21.

Sanofi (NASDAQ:SNYGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). The company had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $13.02 billion. Sanofi had a return on equity of 27.47% and a net margin of 12.56%. Equities analysts expect that Sanofi will post 4.19 EPS for the current year.

Sanofi Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 10th will be issued a $1.478 dividend. This is a positive change from Sanofi’s previous annual dividend of $1.38. The ex-dividend date is Thursday, May 9th. This represents a dividend yield of 2.98%. Sanofi’s dividend payout ratio is presently 58.47%.

About Sanofi

(Free Report)

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.

Further Reading

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Institutional Ownership by Quarter for Sanofi (NASDAQ:SNY)

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