HF Advisory Group LLC Sells 947 Shares of Wells Fargo & Company (NYSE:WFC)

HF Advisory Group LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,946 shares of the financial services provider’s stock after selling 947 shares during the period. Wells Fargo & Company accounts for approximately 1.2% of HF Advisory Group LLC’s holdings, making the stock its 21st biggest position. HF Advisory Group LLC’s holdings in Wells Fargo & Company were worth $2,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $211,000. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.7 %

Shares of WFC opened at $77.22 on Friday. The business’s fifty day moving average price is $72.74 and its two-hundred day moving average price is $63.44. The firm has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

A number of brokerages have commented on WFC. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

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.