Auxano Advisors LLC Sells 1,697 Shares of Wells Fargo & Company (NYSE:WFC)

Auxano Advisors LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 25.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,984 shares of the financial services provider’s stock after selling 1,697 shares during the period. Auxano Advisors LLC’s holdings in Wells Fargo & Company were worth $245,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WFC. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $29,000. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $32,000. Finally, Bfsg LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WFC shares. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Piper Sandler reduced their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Finally, Barclays upped their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.48 during trading hours on Tuesday, reaching $59.32. The stock had a trading volume of 17,830,978 shares, compared to its average volume of 19,053,975. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The firm has a 50-day simple moving average of $57.09 and a 200-day simple moving average of $49.84. The firm has a market capitalization of $210.02 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

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.