Wealth Architects LLC Sells 214 Shares of Wells Fargo & Company (NYSE:WFC)

Wealth Architects LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,127 shares of the financial services provider’s stock after selling 214 shares during the quarter. Wealth Architects LLC’s holdings in Wells Fargo & Company were worth $571,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after buying an additional 889,953 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Wells Fargo & Company by 63.1% in the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock valued at $137,832,000 after buying an additional 758,893 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $70.96 on Monday. The stock’s 50-day moving average is $75.89 and its 200-day moving average is $69.01. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The stock has a market cap of $233.31 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analyst Ratings Changes

Several equities analysts recently weighed in on WFC shares. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday. Finally, UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Company Profile

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.