Auxano Advisors LLC Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

Auxano Advisors LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,984 shares of the financial services provider’s stock after selling 1,697 shares during the quarter. Auxano Advisors LLC’s holdings in Wells Fargo & Company were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFC. First Financial Corp IN boosted its holdings in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares in the last quarter. CX Institutional grew its position in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after buying an additional 228 shares during the last quarter. Prio Wealth Limited Partnership increased its position in Wells Fargo & Company by 1.7% during the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Wells Fargo & Company by 19.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Argus increased their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. HSBC upped their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Citigroup reiterated a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $0.48 during mid-day trading on Tuesday, hitting $59.32. The company’s stock had a trading volume of 17,830,978 shares, compared to its average volume of 19,053,975. The stock’s fifty day moving average price is $57.09 and its two-hundred day moving average price is $49.84. The stock has a market capitalization of $210.02 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76.

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

Wells Fargo & Company Announces Dividend

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

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.