Assetmark Inc. Purchases 86,496 Shares of Sanofi $SNY

Key Points

• Assetmark Inc. increased its position in Sanofi by 24.2%, purchasing 86,496 shares to hold 443,668 shares valued at about $21,500,000 per its latest SEC filing.
• Sanofi raised its annual dividend to $2.4225 (up from $2.04), payable June 3 with a record/ex-dividend date of May 4, and a reported payout ratio of 44.44%.
• The stock carries a market cap of about $117.1 billion and a consensus analyst rating of Hold with an average price target of $58.00 after several recent downgrades by major banks.

Assetmark Inc. boosted its position in Sanofi (NASDAQ:SNY - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 443,668 shares of the company's stock after purchasing an additional 86,496 shares during the period. Assetmark Inc.'s holdings in Sanofi were worth $21,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Sanofi during the fourth quarter valued at approximately $25,000. Financial Consulate Inc. bought a new stake in shares of Sanofi during the third quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Sanofi during the third quarter valued at approximately $29,000. Palisade Asset Management LLC bought a new stake in shares of Sanofi during the third quarter valued at approximately $30,000. Finally, First Horizon Corp bought a new stake in shares of Sanofi during the third quarter valued at approximately $33,000. Institutional investors own 14.03% of the company's stock.

Sanofi Stock Performance

Shares of SNY stock opened at $48.02 on Thursday. The firm has a market cap of $117.12 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.19 and a beta of 0.42. The company's 50 day moving average is $46.46 and its 200 day moving average is $48.04. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. Sanofi has a 52-week low of $43.32 and a 52-week high of $55.73.

Sanofi Increases Dividend

The company also recently declared 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 is an increase from Sanofi's previous annual dividend of $2.04. This represents a yield of 502.0%. The ex-dividend date of this dividend is Monday, May 4th. Sanofi's dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

SNY has been the subject of several research analyst reports. Barclays downgraded shares of Sanofi from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, January 6th. UBS Group reaffirmed a "neutral" rating on shares of Sanofi in a research note on Friday, January 16th. Citigroup reaffirmed a "neutral" rating on shares of Sanofi in a research note on Monday. Bank of America downgraded shares of Sanofi from a "buy" rating to a "neutral" rating in a research note on Thursday, February 12th. Finally, Weiss Ratings raised shares of Sanofi from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $58.00.

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.

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