Wealthfront Advisers LLC Sells 290,354 Shares of Wells Fargo & Company (NYSE:WFC)

Wealthfront Advisers LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 95.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,958 shares of the financial services provider’s stock after selling 290,354 shares during the quarter. Wealthfront Advisers LLC’s holdings in Wells Fargo & Company were worth $1,051,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $35,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $70.96 on Friday. The stock’s fifty day moving average price is $75.89 and its two-hundred day moving average price is $68.93. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $233.31 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WFC. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.39.

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.