Wells Fargo & Company (NYSE:WFC) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its holdings in Wells Fargo & Company (NYSE:WFC) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,324,538 shares of the financial services provider’s stock after selling 95,215 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Wells Fargo & Company were worth $93,036,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Income Research & Management acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $211,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $35,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WFC. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $79.68 on Friday. The company’s fifty day simple moving average is $74.30 and its 200-day simple moving average is $65.96. Wells Fargo & Company has a 52 week low of $48.62 and a 52 week high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $265.29 billion, a PE ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18.

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 for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & Company Profile

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.