IHT Wealth Management LLC Decreases Stake in Wells Fargo & Company (NYSE:WFC)

IHT Wealth Management LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,255 shares of the financial services provider's stock after selling 6,228 shares during the period. IHT Wealth Management LLC's holdings in Wells Fargo & Company were worth $1,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after acquiring an additional 30,510 shares during the last quarter. Valmark Advisers Inc. lifted its stake in Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 431 shares during the last quarter. NatWest Group plc boosted its position in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after buying an additional 63,102 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $1,656,000. Finally, Modera Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 2,548 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.2 %

NYSE:WFC traded up $0.16 during trading hours on Friday, hitting $69.72. 17,768,814 shares of the company traded hands, compared to its average volume of 17,467,023. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $227.65 billion, a PE ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.02. The firm's 50-day simple moving average is $70.01 and its 200-day simple moving average is $71.43. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is 28.73%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WFC shares. Truist Financial reduced their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Raymond James reduced their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Morgan Stanley increased their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $75.34.

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.