Gradient Capital Advisors LLC Has $290,000 Stake in Wells Fargo & Company (NYSE:WFC)

Gradient Capital Advisors LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,126 shares of the financial services provider’s stock after selling 152 shares during the period. Gradient Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $290,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. raised its position in Wells Fargo & Company by 31.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock valued at $350,000 after buying an additional 1,493 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Wells Fargo & Company by 133.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,495 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 2,000 shares during the period. ORG Wealth Partners LLC purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $81,000. Iams Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 8.8% in the 3rd quarter. Iams Wealth Management LLC now owns 35,145 shares of the financial services provider’s stock valued at $1,985,000 after purchasing an additional 2,835 shares during the period. Finally, PFG Advisors increased its holdings in shares of Wells Fargo & Company by 3.6% in the 3rd quarter. PFG Advisors now owns 101,761 shares of the financial services provider’s stock valued at $5,748,000 after purchasing an additional 3,536 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on WFC. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Up 0.7 %

WFC opened at $79.66 on Wednesday. The firm has a market cap of $265.23 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business has a 50 day moving average price of $73.97 and a 200 day moving average price of $65.64. Wells Fargo & Company has a twelve month low of $47.59 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.