Wealth Management Partners LLC Sells 309 Shares of Wells Fargo & Company (NYSE:WFC)

Wealth Management Partners LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,714 shares of the financial services provider’s stock after selling 309 shares during the period. Wealth Management Partners LLC’s holdings in Wells Fargo & Company were worth $472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFC. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WFC shares. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Up 1.7 %

Wells Fargo & Company stock opened at $77.22 on Monday. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The firm’s 50 day moving average price is $72.74 and its 200-day moving average price is $63.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

About Wells Fargo & Company

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.