Martin & Co. Inc. TN Sells 1,041 Shares of Wells Fargo & Company (NYSE:WFC)

Martin & Co. Inc. TN lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,199 shares of the financial services provider’s stock after selling 1,041 shares during the period. Martin & Co. Inc. TN’s holdings in Wells Fargo & Company were worth $1,489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $79.68 on Monday. 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 one year low of $48.62 and a one year high of $81.50. The firm has a market capitalization of $265.29 billion, a P/E ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. The business has a fifty day moving average of $74.41 and a 200 day moving average of $66.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WFC. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group lifted their price objective 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 raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.