Baxter Bros Inc. Sells 789 Shares of Wells Fargo & Company (NYSE:WFC)

Baxter Bros Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 122,777 shares of the financial services provider’s stock after selling 789 shares during the quarter. Baxter Bros Inc.’s holdings in Wells Fargo & Company were worth $6,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. First Financial Corp IN lifted its stake in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares during the last quarter. CX Institutional lifted its stake in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 217 shares during the period. ERTS Wealth Advisors LLC boosted its position in Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 228 shares during the last quarter. Prio Wealth Limited Partnership grew its stake in shares of Wells Fargo & Company by 1.7% in the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after buying an additional 233 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Wells Fargo & Company by 19.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 244 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Argus upped their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. HSBC raised their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Morgan Stanley lifted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Trading Up 0.2 %

Shares of NYSE:WFC traded up $0.11 on Friday, hitting $59.94. 17,298,461 shares of the company’s stock were exchanged, compared to its average volume of 19,706,676. The business’s 50 day simple moving average is $57.63 and its two-hundred day simple moving average is $50.23. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $212.21 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. Wells Fargo & Company’s payout ratio is 29.23%.

Wells Fargo & 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.