Premier Path Wealth Partners LLC Sells 20,835 Shares of Wells Fargo & Company (NYSE:WFC)

Premier Path Wealth Partners LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 47.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,131 shares of the financial services provider's stock after selling 20,835 shares during the quarter. Premier Path Wealth Partners LLC's holdings in Wells Fargo & Company were worth $1,625,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Income Research & Management acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $211,000. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $32,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.7 %

Shares of NYSE:WFC traded up $1.27 during trading on Friday, reaching $77.22. The stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm's fifty day moving average is $72.74 and its 200 day moving average is $63.46. The stock has a market cap of $257.11 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. Wells Fargo & Company's revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WFC. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.39.

About Wells Fargo & Company

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.