Gardner Russo & Quinn LLC Sells 208,764 Shares of Wells Fargo & Company (NYSE:WFC)

Gardner Russo & Quinn LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,556 shares of the financial services provider's stock after selling 208,764 shares during the period. Wells Fargo & Company comprises approximately 0.2% of Gardner Russo & Quinn LLC's portfolio, making the stock its 22nd largest position. Gardner Russo & Quinn LLC's holdings in Wells Fargo & Company were worth $13,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Michael A. Dubis Financial Planning LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $456,000. OneAscent Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 1.9% during the fourth quarter. OneAscent Wealth Management LLC now owns 8,623 shares of the financial services provider's stock valued at $606,000 after purchasing an additional 161 shares during the period. Allstate Corp bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $7,135,000. Maridea Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $381,000. Finally, DnB Asset Management AS raised its holdings in Wells Fargo & Company by 2.1% during the 4th quarter. DnB Asset Management AS now owns 613,324 shares of the financial services provider's stock valued at $43,080,000 after buying an additional 12,352 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. Compass Point boosted 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. The Goldman Sachs Group increased 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. Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Morgan Stanley raised their price target 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. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $74.97.

Wells Fargo & Company Stock Up 1.6 %

NYSE:WFC traded up $1.16 during trading hours on Monday, reaching $71.85. 8,118,214 shares of the company traded hands, compared to its average volume of 17,131,267. 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 business's 50-day moving average price is $75.84 and its two-hundred day moving average price is $70.14. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a market capitalization of $234.59 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was 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.