Wells Fargo & Company (NYSE:WFC) is Tweedy Browne Co LLC’s 9th Largest Position

Tweedy Browne Co LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 892,334 shares of the financial services provider’s stock after selling 8,134 shares during the period. Wells Fargo & Company comprises 2.4% of Tweedy Browne Co LLC’s holdings, making the stock its 9th biggest position. Tweedy Browne Co LLC’s holdings in Wells Fargo & Company were worth $51,720,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter valued at $25,000. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 5.8 %

WFC traded down $3.50 on Friday, reaching $56.66. 30,862,031 shares of the company traded hands, compared to its average volume of 18,263,709. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a fifty day simple moving average of $59.55 and a two-hundred day simple moving average of $55.73. The company has a market cap of $197.53 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.25 by $0.08. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.47%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WFC shares. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Compass Point reissued a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group lifted their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.52.

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.