Axxcess Wealth Management LLC Sells 5,456 Shares of Wells Fargo & Company (NYSE:WFC)

Axxcess Wealth Management LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 74,577 shares of the financial services provider’s stock after selling 5,456 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $5,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth $30,000. Finally, Rakuten Securities Inc. lifted its position in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.3 %

Shares of WFC opened at $71.08 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $233.72 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The business’s 50 day simple moving average is $75.86 and its 200-day simple moving average is $69.19.

Wells Fargo & Company (NYSE:WFC) last released 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 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of analysts have commented on WFC shares. UBS Group upped 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. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

About Wells Fargo & Company

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.