DAVENPORT & Co LLC Has $58.09 Million Holdings in Sanofi (NASDAQ:SNY)

DAVENPORT & Co LLC cut its stake in Sanofi (NASDAQ:SNY - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,170,369 shares of the company's stock after selling 31,657 shares during the period. DAVENPORT & Co LLC's holdings in Sanofi were worth $58,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNY. Arrowstreet Capital Limited Partnership boosted its stake in Sanofi by 276.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,362,112 shares of the company's stock worth $172,611,000 after purchasing an additional 2,468,271 shares during the period. Morgan Stanley lifted its position in Sanofi by 19.3% during the 4th quarter. Morgan Stanley now owns 7,733,069 shares of the company's stock worth $374,513,000 after buying an additional 1,251,199 shares in the last quarter. Perceptive Advisors LLC bought a new stake in Sanofi during the 1st quarter worth about $41,800,000. Envestnet Asset Management Inc. lifted its position in Sanofi by 29.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,838,903 shares of the company's stock worth $152,279,000 after buying an additional 651,756 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Sanofi by 24.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,643,615 shares of the company's stock worth $132,260,000 after buying an additional 515,245 shares in the last quarter. 10.04% of the stock is owned by institutional investors and hedge funds.

Sanofi Stock Performance

Shares of NASDAQ:SNY traded down $0.59 on Tuesday, reaching $47.70. 1,305,567 shares of the company's stock were exchanged, compared to its average volume of 1,838,017. The company has a fifty day moving average of $47.98 and a 200-day moving average of $49.21. Sanofi has a twelve month low of $42.63 and a twelve month high of $57.82. The company has a market capitalization of $120.66 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.80 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19.

Sanofi (NASDAQ:SNY - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). The firm had revenue of $11.76 billion for the quarter, compared to analyst estimates of $13.02 billion. Sanofi had a return on equity of 27.47% and a net margin of 12.56%. On average, research analysts predict that Sanofi will post 4.19 EPS for the current fiscal year.

Sanofi Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 10th will be given a dividend of $1.478 per share. This is a positive change from Sanofi's previous annual dividend of $1.38. The ex-dividend date is Thursday, May 9th. This represents a dividend yield of 2.98%. Sanofi's dividend payout ratio (DPR) is currently 58.47%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNY. JPMorgan Chase & Co. cut shares of Sanofi from an "overweight" rating to a "neutral" rating in a research report on Tuesday, December 5th. StockNews.com cut shares of Sanofi from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 27th. TheStreet cut shares of Sanofi from a "b" rating to a "c" rating in a report on Friday, February 9th. Finally, Morgan Stanley started coverage on shares of Sanofi in a report on Tuesday, January 23rd. They issued an "equal weight" rating and a $55.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $55.00.

Sanofi Company Profile

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

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