Hazlett Burt & Watson Inc. Decreases Position in Wells Fargo & Company (NYSE:WFC)

Hazlett Burt & Watson Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,169 shares of the financial services provider’s stock after selling 518 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Wells Fargo & Company were worth $179,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the second quarter worth $26,000. Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. J.Safra Asset Management Corp boosted its holdings in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the period. Finally, Fairscale Capital LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth $47,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.5 %

WFC opened at $63.70 on Tuesday. The company has a market cap of $216.82 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.46 and a beta of 1.14. The business’s 50-day moving average price is $58.64 and its 200-day moving average price is $58.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $66.39.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WFC shares. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Compass Point lifted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Piper Sandler lifted their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.12.

Insider Activity at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & 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.