Investors Asset Management of Georgia Inc. GA ADV Sells 656 Shares of Wells Fargo & Company (NYSE:WFC)

Investors Asset Management of Georgia Inc. GA ADV lowered its position in shares of Wells Fargo & Company (NYSE:WFCFree Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,226 shares of the financial services provider’s stock after selling 656 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Wells Fargo & Company were worth $879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Kathmere Capital Management LLC grew its position in shares of Wells Fargo & Company by 19.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after buying an additional 1,185 shares in the last quarter. Stoneridge Investment Partners LLC boosted its holdings in Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after buying an additional 54,262 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $4,967,000. Pegasus Partners Ltd. acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $226,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Wells Fargo & Company in the 3rd quarter worth $5,143,000. 72.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WFC. Piper Sandler lowered their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Raymond James increased their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Barclays boosted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $51.43.

Check Out Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Stock Up 1.8 %

NYSE WFC traded up $0.86 on Monday, reaching $48.92. The company had a trading volume of 14,021,868 shares, compared to its average volume of 17,852,545. The firm has a market capitalization of $177.66 billion, a PE ratio of 10.15, a P/E/G ratio of 1.00 and a beta of 1.18. The firm has a 50-day moving average of $48.53 and a 200-day moving average of $44.24. Wells Fargo & Company has a 1 year low of $35.25 and a 1 year high of $51.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 2nd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.

About Wells Fargo & Company

(Free Report)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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