Bank Pictet & Cie Europe AG Has $63.56 Million Stake in Wells Fargo & Company (NYSE:WFC)

Bank Pictet & Cie Europe AG lessened its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 904,916 shares of the financial services provider's stock after selling 38,699 shares during the quarter. Wells Fargo & Company makes up about 1.4% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 20th largest position. Bank Pictet & Cie Europe AG's holdings in Wells Fargo & Company were worth $63,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Two Sigma Advisers LP boosted its holdings in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company in the third quarter worth about $160,529,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after buying an additional 1,659,716 shares during the period. Artemis Investment Management LLP raised its position in shares of Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock valued at $96,567,000 after acquiring an additional 1,105,679 shares during the last quarter. Finally, National Pension Service lifted its stake in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after buying an additional 897,195 shares during the period. Institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC traded down $0.40 during trading hours on Wednesday, reaching $80.38. The stock had a trading volume of 13,916,450 shares, compared to its average volume of 15,186,192. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a market capitalization of $267.63 billion, a PE ratio of 14.94, a PEG ratio of 1.20 and a beta of 1.18. The company's 50-day moving average is $74.72 and its two-hundred day moving average is $66.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

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.