Meridian Wealth Management LLC Lowers Position in Sanofi $SNY

Meridian Wealth Management LLC lessened its holdings in Sanofi (NASDAQ:SNY) by 84.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,278 shares of the company’s stock after selling 38,263 shares during the period. Meridian Wealth Management LLC’s holdings in Sanofi were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNY. Flagship Harbor Advisors LLC purchased a new stake in shares of Sanofi in the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Sanofi in the third quarter worth $29,000. Palisade Asset Management LLC purchased a new stake in shares of Sanofi in the third quarter worth $30,000. First Horizon Corp purchased a new stake in shares of Sanofi in the third quarter worth $33,000. Finally, Sittner & Nelson LLC purchased a new stake in shares of Sanofi in the third quarter worth $47,000. Hedge funds and other institutional investors own 14.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNY. Citigroup reiterated a “neutral” rating on shares of Sanofi in a research report on Monday, April 13th. Wall Street Zen downgraded Sanofi from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Argus upgraded Sanofi to a “strong-buy” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Finally, Bank of America downgraded Sanofi from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Sanofi presently has an average rating of “Hold” and a consensus price target of $51.00.

Sanofi Trading Down 0.4%

NASDAQ SNY opened at $42.69 on Friday. The stock’s 50-day simple moving average is $45.60 and its two-hundred day simple moving average is $47.46. Sanofi has a twelve month low of $42.33 and a twelve month high of $53.36. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $104.12 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.06 and a beta of 0.35.

Sanofi Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Monday, May 4th will be paid a dividend of $2.4225 per share. This represents a dividend yield of 559.0%. This is an increase from Sanofi’s previous annual dividend of $2.04. The ex-dividend date of this dividend is Monday, May 4th. Sanofi’s payout ratio is 49.44%.

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.