Wells Fargo & Company (NYSE:WFC) Shares Sold by Intrinsic Value Partners LLC

Intrinsic Value Partners LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,860 shares of the financial services provider’s stock after selling 250 shares during the quarter. Wells Fargo & Company accounts for 1.1% of Intrinsic Value Partners LLC’s investment portfolio, making the stock its 21st biggest position. Intrinsic Value Partners LLC’s holdings in Wells Fargo & Company were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Manchester Capital Management LLC lifted its stake in shares of Wells Fargo & Company by 2.0% during the fourth quarter. Manchester Capital Management LLC now owns 8,953 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 175 shares in the last quarter. WealthPlan Investment Management LLC lifted its stake in shares of Wells Fargo & Company by 17.4% during the fourth quarter. WealthPlan Investment Management LLC now owns 10,606 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 1,572 shares in the last quarter. BXM Wealth LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $230,000. Myriad Asset Management US LP acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $1,545,000. Finally, Spinnaker Trust lifted its stake in shares of Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

WFC opened at $79.68 on Friday. The company has a market capitalization of $265.29 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $48.62 and a 1-year high of $81.50. The business has a 50 day moving average price of $74.30 and a two-hundred day moving average price of $65.96.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. Wells Fargo & Company’s dividend payout ratio (DPR) 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.