Wealth Management Partners LLC Sells 309 Shares of Wells Fargo & Company (NYSE:WFC)

Wealth Management Partners LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,714 shares of the financial services provider’s stock after selling 309 shares during the quarter. Wealth Management Partners LLC’s holdings in Wells Fargo & Company were worth $472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $272,000. AE Wealth Management LLC increased its position in Wells Fargo & Company by 16.4% during the 2nd quarter. AE Wealth Management LLC now owns 93,970 shares of the financial services provider’s stock valued at $5,581,000 after purchasing an additional 13,241 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Wells Fargo & Company by 0.9% in the 2nd quarter. Pacer Advisors Inc. now owns 248,325 shares of the financial services provider’s stock valued at $14,748,000 after purchasing an additional 2,255 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Wells Fargo & Company by 776.7% during the second quarter. Hancock Whitney Corp now owns 91,264 shares of the financial services provider’s stock valued at $5,420,000 after purchasing an additional 80,854 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Wells Fargo & Company by 1.1% during the second quarter. ProShare Advisors LLC now owns 723,733 shares of the financial services provider’s stock valued at $42,983,000 after buying an additional 7,748 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.22 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The business’s 50 day moving average is $72.74 and its two-hundred day moving average is $63.46. The company has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Analysts expect that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

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.