44 Wealth Management LLC Sells 4,109 Shares of Wells Fargo & Company (NYSE:WFC)

44 Wealth Management LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,512 shares of the financial services provider’s stock after selling 4,109 shares during the quarter. Wells Fargo & Company makes up about 1.4% of 44 Wealth Management LLC’s portfolio, making the stock its 7th biggest holding. 44 Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,548,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $35,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth about $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

NYSE WFC opened at $77.43 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a 50 day moving average price of $75.20 and a two-hundred day moving average price of $66.90. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

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.