Sawyer & Company Inc Sells 1,584 Shares of Wells Fargo & Company (NYSE:WFC)

Sawyer & Company Inc trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,856 shares of the financial services provider’s stock after selling 1,584 shares during the quarter. Sawyer & Company Inc’s holdings in Wells Fargo & Company were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of WFC. Income Research & Management bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $211,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the second quarter worth $26,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 6.6 %

WFC opened at $75.86 on Thursday. The firm’s 50 day simple moving average is $72.41 and its two-hundred day simple moving average is $63.15. The company has a market capitalization of $252.58 billion, a PE ratio of 15.77, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. 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 (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, equities analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WFC shares. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

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.