Bank of New York Mellon Corp Sells 840,093 Shares of Sanofi (NASDAQ:SNY)

Bank of New York Mellon Corp decreased its holdings in Sanofi (NASDAQ:SNY - Free Report) by 30.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,945,223 shares of the company's stock after selling 840,093 shares during the period. Bank of New York Mellon Corp owned 0.08% of Sanofi worth $107,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNY. Brighton Jones LLC grew its holdings in Sanofi by 52.6% during the 4th quarter. Brighton Jones LLC now owns 5,420 shares of the company's stock valued at $261,000 after buying an additional 1,869 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Sanofi by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,945 shares of the company's stock valued at $7,328,000 after purchasing an additional 12,440 shares during the period. Amundi grew its position in shares of Sanofi by 11.1% during the 4th quarter. Amundi now owns 630,063 shares of the company's stock valued at $31,017,000 after purchasing an additional 63,195 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Sanofi in the fourth quarter worth $1,908,000. Finally, HighTower Advisors LLC raised its position in shares of Sanofi by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 91,071 shares of the company's stock worth $4,392,000 after buying an additional 2,971 shares in the last quarter. 14.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Hsbc Global Res upgraded Sanofi to a "strong-buy" rating in a research report on Monday, April 28th. The Goldman Sachs Group assumed coverage on shares of Sanofi in a research report on Friday, March 21st. They issued a "neutral" rating and a $65.00 price objective on the stock. Barclays reaffirmed an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. BNP Paribas started coverage on shares of Sanofi in a report on Tuesday, April 15th. They issued an "outperform" rating and a $65.00 price target on the stock. Finally, Morgan Stanley set a $56.00 price objective on shares of Sanofi in a research report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $61.50.

Sanofi Price Performance

NASDAQ:SNY traded up $0.51 during mid-day trading on Thursday, reaching $49.34. The stock had a trading volume of 2,218,972 shares, compared to its average volume of 2,333,951. The stock has a market capitalization of $121.00 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.10 and a beta of 0.48. The firm has a 50 day moving average price of $50.28 and a two-hundred day moving average price of $52.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.69 and a current ratio of 1.37. Sanofi has a one year low of $45.80 and a one year high of $60.12.

Sanofi (NASDAQ:SNY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. Sanofi had a net margin of 14.56% and a return on equity of 17.15%. The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the business posted $1.78 EPS. The business's quarterly revenue was down 11.0% on a year-over-year basis. As a group, analysts expect that Sanofi will post 4.36 earnings per share for the current year.

Sanofi Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 9th were paid a $2.0369 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Sanofi's previous annual dividend of $1.48. This represents a yield of 3.1%. Sanofi's payout ratio is currently 56.79%.

Sanofi Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, 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.