Investors Asset Management of Georgia Inc. GA ADV Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Investors Asset Management of Georgia Inc. GA ADV cut its holdings in Wells Fargo & Company (NYSE:WFC) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,699 shares of the financial services provider’s stock after selling 527 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Wells Fargo & Company were worth $1,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $28,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC traded up $1.51 during midday trading on Thursday, hitting $58.69. 14,153,514 shares of the company traded hands, compared to its average volume of 18,620,340. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $207.79 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The company’s 50-day moving average is $55.42 and its 200 day moving average is $48.61. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $59.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the business earned $1.23 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a research report on Thursday, January 18th. Raymond James increased their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.85.

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.