Wells Fargo & Company (NYSE:WFC) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,897 shares of the financial services provider’s stock after selling 275 shares during the quarter. Carret Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,100,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Covestor Ltd raised its holdings in shares of Wells Fargo & Company by 17.3% in the 3rd quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 196 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 21.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,773 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 495 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Wells Fargo & Company by 6.7% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,115 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 259 shares in the last quarter. First Heartland Consultants Inc. acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $309,000. Finally, Aptus Capital Advisors LLC raised its holdings in shares of Wells Fargo & Company by 17.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 27,872 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 4,048 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Piper Sandler lifted their price target on shares of 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, UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Stock Down 0.8 %

Shares of NYSE:WFC opened at $68.35 on Friday. The company has a market cap of $224.76 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.18 and a beta of 1.16. The firm’s 50-day simple moving average is $75.90 and its 200-day simple moving average is $68.74. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. 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 issued its earnings results 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. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 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.