Wells Fargo & Company (NYSE:WFC) Stake Lowered by Sawyer & Company Inc

Sawyer & Company Inc reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.0% during the 1st quarter, HoldingsChannel reports. The fund owned 16,006 shares of the financial services provider’s stock after selling 850 shares during the period. Sawyer & Company Inc’s holdings in Wells Fargo & Company were worth $1,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Shakespeare Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock valued at $972,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 134 shares in the last quarter. Safeguard Investment Advisory Group LLC grew its holdings in shares of Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 137 shares in the last quarter. Crown Wealth Group LLC grew its holdings in shares of Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 140 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its holdings in Wells Fargo & Company by 0.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 144 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.8%

Shares of WFC opened at $75.33 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm’s 50 day moving average is $72.42 and its 200-day moving average is $72.87. The stock has a market capitalization of $245.14 billion, a PE ratio of 13.52, a P/E/G ratio of 1.25 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The company had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same period last year, the firm earned $1.20 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. Wells Fargo & Company’s dividend payout ratio is 28.73%.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Citigroup decreased their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Raymond James Financial reiterated a “strong-buy” rating on shares of Wells Fargo & Company in a report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, TD Cowen initiated coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective for the company. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.98.

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.