Wells Fargo & Company (NYSE:WFC) Stake Decreased by Andra AP fonden

Andra AP fonden trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 35.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,200 shares of the financial services provider’s stock after selling 82,800 shares during the quarter. Andra AP fonden’s holdings in Wells Fargo & Company were worth $10,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC increased its stake in Wells Fargo & Company by 9.7% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 8,160 shares of the financial services provider’s stock valued at $461,000 after buying an additional 720 shares during the period. Foster & Motley Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $289,000. Concurrent Investment Advisors LLC increased its stake in shares of Wells Fargo & Company by 1.6% during the third quarter. Concurrent Investment Advisors LLC now owns 41,403 shares of the financial services provider’s stock valued at $2,339,000 after acquiring an additional 643 shares during the period. Olympiad Research LP raised its holdings in Wells Fargo & Company by 66.5% during the third quarter. Olympiad Research LP now owns 6,212 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 2,480 shares in the last quarter. Finally, Consolidated Planning Corp lifted its position in Wells Fargo & Company by 12.9% in the third quarter. Consolidated Planning Corp now owns 4,449 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 507 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $71.01 on Friday. The business’s 50-day moving average is $76.10 and its 200-day moving average is $68.41. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $233.50 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WFC. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Profile

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.