Wells Fargo & Company (NYSE:WFC) Shares Sold by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,004 shares of the financial services provider’s stock after selling 1,619 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Wells Fargo & Company were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares in the last quarter. Studio Investment Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $1.61 on Friday, reaching $60.35. 34,334,317 shares of the stock were exchanged, compared to its average volume of 15,430,011. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $60.85. The firm has a fifty day moving average price of $55.88 and a two-hundred day moving average price of $48.82. The stock has a market cap of $213.66 billion, a PE ratio of 12.60, a PEG ratio of 1.14 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analysts Set New Price Targets

Several equities analysts have weighed in on WFC shares. HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated 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. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Finally, Compass Point reissued a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.