Arkadios Wealth Advisors decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,336 shares of the financial services provider’s stock after selling 1,010 shares during the quarter. Arkadios Wealth Advisors’ holdings in Wells Fargo & Company were worth $706,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth approximately $25,000. Studio Investment Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its holdings in Wells Fargo & Company by 108.0% during the fourth quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 376 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the first quarter valued at approximately $28,000. Finally, Baystate Wealth Management LLC lifted its holdings in Wells Fargo & Company by 53.0% during the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Trading Up 1.3 %
Shares of WFC opened at $57.40 on Friday. The company’s fifty day moving average is $54.20 and its 200 day moving average is $47.73. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $58.44. The stock has a market capitalization of $203.22 billion, a PE ratio of 11.91, a P/E/G ratio of 1.19 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 4.73 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.05%.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Compass Point lifted their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Raymond James boosted their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $56.68.
View Our Latest Analysis on Wells Fargo & Company
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.
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Source: defenseworld.net
