Tranquilli Financial Advisor LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,203 shares of the financial services provider’s stock after selling 1,427 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in Wells Fargo & Company were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC bought a new stake in Wells Fargo & Company in the third quarter worth $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on WFC. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.
Wells Fargo & Company Stock Performance
NYSE:WFC opened at $78.14 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $260.17 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.19 and a beta of 1.18. The stock has a 50-day moving average price of $73.59 and a 200 day moving average price of $64.78. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.29.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s 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.
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