Merit Financial Group LLC Takes $256,000 Position in Sanofi (NASDAQ:SNY)

Merit Financial Group LLC purchased a new stake in Sanofi (NASDAQ:SNY) during the 4th quarter, Holdings Channel reports. The firm purchased 5,139 shares of the company’s stock, valued at approximately $256,000.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Sanofi by 29.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,838,903 shares of the company’s stock worth $152,279,000 after acquiring an additional 651,756 shares during the period. Natixis Advisors L.P. lifted its position in Sanofi by 15.9% in the third quarter. Natixis Advisors L.P. now owns 2,528,289 shares of the company’s stock worth $135,618,000 after purchasing an additional 346,563 shares during the period. Morgan Stanley boosted its stake in Sanofi by 4.6% during the 3rd quarter. Morgan Stanley now owns 7,322,806 shares of the company’s stock valued at $392,796,000 after purchasing an additional 323,968 shares in the last quarter. Clough Capital Partners L P acquired a new position in shares of Sanofi during the 3rd quarter valued at $14,719,000. Finally, Soros Fund Management LLC bought a new stake in shares of Sanofi in the 3rd quarter worth $11,533,000. 10.04% of the stock is currently owned by institutional investors and hedge funds.

Sanofi Price Performance

Shares of SNY opened at $48.69 on Friday. The business’s 50-day moving average is $47.99 and its 200-day moving average is $48.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.87. The company has a market capitalization of $123.17 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 1.37 and a beta of 0.61. Sanofi has a fifty-two week low of $42.63 and a fifty-two week high of $55.72.

Sanofi Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 10th will be paid a $1.478 dividend. This represents a yield of 2.98%. The ex-dividend date is Thursday, May 9th. This is a positive change from Sanofi’s previous annual dividend of $1.38. Sanofi’s dividend payout ratio is currently 69.35%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley began coverage on Sanofi in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $55.00 target price for the company. TheStreet lowered shares of Sanofi from a “b” rating to a “c” rating in a research report on Friday, February 9th. Finally, StockNews.com cut Sanofi from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Sanofi has an average rating of “Moderate Buy” and a consensus price target of $55.00.

About Sanofi

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.