Baker Tilly Wealth Management LLC Sells 1,362 Shares of Wells Fargo & Company (NYSE:WFC)

Baker Tilly Wealth Management LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,286 shares of the financial services provider’s stock after selling 1,362 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Wells Fargo & Company were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WFC. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 2.1 %

Wells Fargo & Company stock traded down $1.48 during trading on Friday, hitting $70.09. 3,797,648 shares of the company were exchanged, compared to its average volume of 11,042,915. The company has a market capitalization of $233.36 billion, a P/E ratio of 14.57, a PEG ratio of 1.47 and a beta of 1.18. The business’s 50 day moving average is $72.02 and its 200 day moving average is $62.82. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the business posted $1.39 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Truist Financial assumed coverage on Wells Fargo & Company in a research report on Tuesday. They issued a “buy” rating and a $82.00 price objective for the company. UBS Group lifted their target price 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, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.92.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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.