Alaska Wealth Advisors Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Alaska Wealth Advisors lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,284 shares of the financial services provider’s stock after selling 713 shares during the period. Alaska Wealth Advisors’ holdings in Wells Fargo & Company were worth $441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Wells Fargo & Company Stock Up 0.7 %

WFC stock opened at $79.66 on Wednesday. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two week high of $81.50. The company has a market capitalization of $265.23 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 business’s 50 day moving average price is $73.97 and its two-hundred day moving average price is $65.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business 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 quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & 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.