Morningstar Investment Management LLC Sells 38,162 Shares of Wells Fargo & Company (NYSE:WFC)

Morningstar Investment Management LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 75.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,484 shares of the financial services provider’s stock after selling 38,162 shares during the quarter. Morningstar Investment Management LLC’s holdings in Wells Fargo & Company were worth $877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company in the third quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price 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. 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. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.5 %

NYSE:WFC opened at $80.38 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a market cap of $267.63 billion, a PE ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 1.18. The company’s 50 day moving average is $74.90 and its two-hundred day moving average is $66.64.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio 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.