Capital Investment Advisors LLC Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Capital Investment Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,058 shares of the financial services provider’s stock after selling 2,197 shares during the quarter. Capital Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $3,305,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Brookstone Capital Management lifted its holdings in shares of Wells Fargo & Company by 10.8% in the 4th quarter. Brookstone Capital Management now owns 17,676 shares of the financial services provider’s stock worth $1,242,000 after buying an additional 1,726 shares during the period. Fiduciary Alliance LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth $1,522,000. Czech National Bank lifted its stake in shares of Wells Fargo & Company by 4.1% during the 4th quarter. Czech National Bank now owns 721,698 shares of the financial services provider’s stock worth $50,692,000 after purchasing an additional 28,314 shares during the last quarter. West Oak Capital LLC lifted its stake in shares of Wells Fargo & Company by 696.4% during the 4th quarter. West Oak Capital LLC now owns 108,511 shares of the financial services provider’s stock worth $7,622,000 after purchasing an additional 94,886 shares during the last quarter. Finally, Highline Wealth Partners LLC lifted its stake in shares of Wells Fargo & Company by 1.3% during the 4th quarter. Highline Wealth Partners LLC now owns 13,659 shares of the financial services provider’s stock worth $959,000 after purchasing an additional 178 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.9 %

Wells Fargo & Company stock opened at $70.59 on Tuesday. The firm has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The business’s 50-day moving average price is $72.27 and its 200 day moving average price is $63.07. The company has a quick ratio of 0.85, a current 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 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.92.

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.