Wells Fargo & Company (NYSE:WFC) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 4.5% during the 4th quarter, according to the company in its most recent Form 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 period. Capital Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $3,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WFC shares. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Trading Up 0.9 %

Shares of NYSE WFC opened at $70.59 on Tuesday. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month 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. The stock has a fifty day simple moving average of $72.27 and a 200-day simple moving average of $63.07. The stock has a market capitalization of $235.03 billion, a PE ratio of 14.68, a PEG ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wells Fargo & Company Company Profile

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.