M&T Bank Corp Sells 402,012 Shares of Sanofi $SNY

Key Points

• M&T Bank Corp trimmed its stake in Sanofi by 97.4% in Q4, selling 402,012 shares and retaining 10,531 shares valued at about $510,000.
• Sanofi increased its annual dividend to $2.4225 (from $2.04), with an ex-dividend date of May 4 and a payment date of June 3.
• Analysts have a consensus rating of "Hold" on Sanofi with an average price target of $51.00; the breakdown: 2 Strong Buy, 3 Buy, 9 Hold and 1 Sell.

M&T Bank Corp trimmed its stake in Sanofi (NASDAQ:SNY - Free Report) by 97.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,531 shares of the company's stock after selling 402,012 shares during the period. M&T Bank Corp's holdings in Sanofi were worth $510,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in SNY. CSM Advisors LLC acquired a new position in shares of Sanofi during the 3rd quarter worth approximately $18,244,000. Caprock Group LLC acquired a new position in shares of Sanofi during the 3rd quarter worth approximately $1,347,000. Natixis Advisors LLC grew its position in shares of Sanofi by 11.8% during the 3rd quarter. Natixis Advisors LLC now owns 3,113,381 shares of the company's stock worth $146,952,000 after purchasing an additional 327,569 shares in the last quarter. Assetmark Inc. grew its position in shares of Sanofi by 25.0% during the 3rd quarter. Assetmark Inc. now owns 357,172 shares of the company's stock worth $16,859,000 after purchasing an additional 71,356 shares in the last quarter. Finally, XY Capital Ltd acquired a new position in shares of Sanofi during the 3rd quarter worth approximately $1,603,000. 14.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNY has been the topic of several recent analyst reports. Citigroup reissued a "neutral" rating on shares of Sanofi in a report on Monday, April 13th. Argus raised shares of Sanofi to a "strong-buy" rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sanofi in a report on Friday, January 16th. BNP Paribas Exane lowered shares of Sanofi from an "outperform" rating to a "neutral" rating and set a $50.00 target price on the stock. in a report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Sanofi from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $51.00.

Sanofi Stock Down 1.1%

NASDAQ:SNY opened at $46.08 on Friday. The company has a market cap of $112.39 billion, a PE ratio of 12.87, a P/E/G ratio of 1.14 and a beta of 0.35. Sanofi has a one year low of $43.32 and a one year high of $55.73. 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 firm's 50 day simple moving average is $46.39 and its 200 day simple moving average is $47.90.

Sanofi Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Monday, May 4th will be given a $2.4225 dividend. This is an increase from Sanofi's previous annual dividend of $2.04. The ex-dividend date is Monday, May 4th. This represents a dividend yield of 502.0%. Sanofi's dividend payout ratio is presently 44.69%.

Sanofi Company 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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