M&T Bank Corp Purchases 104,427 Shares of Sanofi (NASDAQ:SNY)

M&T Bank Corp lifted its stake in shares of Sanofi (NASDAQ:SNY - Free Report) by 30.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 451,456 shares of the company's stock after acquiring an additional 104,427 shares during the period. M&T Bank Corp's holdings in Sanofi were worth $25,037,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Lee Danner & Bass Inc. bought a new stake in Sanofi during the 4th quarter valued at $31,000. Bessemer Group Inc. grew its position in Sanofi by 59.8% during the fourth quarter. Bessemer Group Inc. now owns 647 shares of the company's stock valued at $32,000 after buying an additional 242 shares during the period. Golden State Wealth Management LLC grew its position in Sanofi by 619.3% during the first quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock valued at $35,000 after buying an additional 545 shares during the period. UMB Bank n.a. lifted its holdings in Sanofi by 30.7% during the first quarter. UMB Bank n.a. now owns 1,124 shares of the company's stock valued at $62,000 after purchasing an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Sanofi during the first quarter valued at about $63,000. Institutional investors and hedge funds own 14.04% of the company's stock.

Analyst Ratings Changes

SNY has been the topic of a number of recent analyst reports. BNP Paribas initiated 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. Guggenheim reiterated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. Morgan Stanley set a $56.00 price target on shares of Sanofi in a research report on Monday, June 2nd. The Goldman Sachs Group began coverage on shares of Sanofi in a research report on Friday, March 21st. They set a "neutral" rating and a $65.00 price target on the stock. Finally, Barclays restated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 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.com, the company currently has an average rating of "Buy" and a consensus target price of $61.50.

Sanofi Trading Down 1.5%

SNY stock traded down $0.73 on Friday, reaching $48.61. The company's stock had a trading volume of 1,207,445 shares, compared to its average volume of 2,330,352. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.69 and a current ratio of 1.37. The firm has a market cap of $119.21 billion, a PE ratio of 17.36, a PEG ratio of 1.11 and a beta of 0.48. The business has a fifty day simple moving average of $50.05 and a two-hundred day simple moving average of $52.11. Sanofi has a 12-month low of $45.80 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.79 billion. Sanofi had a return on equity of 17.15% and a net margin of 14.56%. The company's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. As a group, research analysts forecast that Sanofi will post 4.36 EPS for the current year.

Sanofi Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 9th were issued a $2.0369 dividend. This represents a yield of 3.1%. This is an increase from Sanofi's previous annual dividend of $1.48. The ex-dividend date was Friday, May 9th. Sanofi's dividend payout ratio (DPR) is presently 57.14%.

About Sanofi

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.