Allen Mooney & Barnes Investment Advisors LLC Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Allen Mooney & Barnes Investment Advisors LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,567 shares of the financial services provider’s stock after selling 497 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $2,623,044,000. Capital World Investors grew its position in Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after acquiring an additional 263,176 shares during the period. Sanders Capital LLC grew its position in Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after acquiring an additional 781,772 shares during the period. Charles Schwab Investment Management Inc. grew its position in Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock valued at $1,143,770,000 after acquiring an additional 526,178 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Wells Fargo & Company by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock valued at $932,352,000 after acquiring an additional 596,521 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on WFC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Argus boosted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Morgan Stanley boosted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Jefferies Financial Group boosted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Citigroup reiterated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Stock Up 1.6 %

NYSE:WFC opened at $59.01 on Tuesday. The firm has a market capitalization of $205.73 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. The stock has a 50 day moving average of $59.58 and a 200-day moving average of $54.84. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. Analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.