Wells Fargo & Company (NYSE:WFC) Position Lessened by Sicart Associates LLC

Sicart Associates LLC reduced its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,025 shares of the financial services provider's stock after selling 4,300 shares during the quarter. Wells Fargo & Company comprises approximately 2.9% of Sicart Associates LLC's portfolio, making the stock its 12th biggest holding. Sicart Associates LLC's holdings in Wells Fargo & Company were worth $8,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in WFC. Income Research & Management acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $211,000. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the second quarter worth about $25,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at about $26,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.7 %

Shares of WFC traded up $1.27 during trading on Friday, reaching $77.22. The company's stock had a trading volume of 20,609,919 shares, compared to its average volume of 16,990,602. The company 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. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average of $72.60 and a two-hundred day moving average of $63.33. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the business earned $0.86 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company's dividend payout ratio (DPR) is 33.26%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday. Wolfe Research raised Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Royal Bank of Canada reissued a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group raised 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. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $72.17.

Wells Fargo & Company 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.