Truist Financial Corp Increases Stock Holdings in Sanofi (NASDAQ:SNY)

Truist Financial Corp increased its holdings in shares of Sanofi (NASDAQ:SNY - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 595,139 shares of the company's stock after purchasing an additional 34,516 shares during the quarter. Truist Financial Corp's holdings in Sanofi were worth $33,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 545 shares in the last quarter. Bessemer Group Inc. increased 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 acquiring an additional 242 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Sanofi during the fourth quarter valued at $31,000. UMB Bank n.a. increased its position 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 acquiring an additional 264 shares during the last quarter. Finally, Tsfg LLC increased its position in Sanofi by 1,107.0% during the first quarter. Tsfg LLC now owns 1,207 shares of the company's stock valued at $67,000 after acquiring an additional 1,107 shares during the last quarter. 14.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNY shares. Hsbc Global Res upgraded Sanofi to a "strong-buy" rating in a research report on Monday, April 28th. Morgan Stanley set a $56.00 price objective on Sanofi in a research report on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. The Goldman Sachs Group began coverage on Sanofi in a research report on Friday, March 21st. They set a "neutral" rating and a $65.00 price objective for the company. Finally, BNP Paribas began coverage on Sanofi in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $65.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $61.50.

Sanofi Price Performance

SNY traded up $0.02 on Monday, hitting $48.32. 2,305,572 shares of the company's stock traded hands, compared to its average volume of 2,338,380. The company's 50 day simple moving average is $50.61 and its 200-day simple moving average is $52.12. The firm has a market cap of $118.50 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.05 and a beta of 0.48. Sanofi has a one year low of $45.80 and a one year high of $60.12. The company has a current ratio of 1.37, a quick ratio of 0.69 and a debt-to-equity ratio of 0.16.

Sanofi (NASDAQ:SNY - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.79 billion. Sanofi had a return on equity of 17.15% and a net margin of 14.56%. The firm's quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. As a group, research analysts anticipate that Sanofi will post 4.36 EPS for the current year.

Sanofi Increases Dividend

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

Sanofi Company 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.