Allied Investment Advisors LLC Sells 7,778 Shares of Wells Fargo & Company (NYSE:WFC)

Allied Investment Advisors LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,163 shares of the financial services provider's stock after selling 7,778 shares during the quarter. Wells Fargo & Company accounts for approximately 2.8% of Allied Investment Advisors LLC's holdings, making the stock its 9th biggest position. Allied Investment Advisors LLC's holdings in Wells Fargo & Company were worth $13,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC boosted its position in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after purchasing an additional 30,510 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after purchasing an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock valued at $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. boosted its position in Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock valued at $1,780,000 after purchasing an additional 8,107 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target 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. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Stock Performance

WFC traded down $1.66 on Thursday, hitting $78.69. 14,800,325 shares of the stock traded hands, compared to its average volume of 15,174,527. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 firm has a market capitalization of $262.00 billion, a PE ratio of 14.63, a P/E/G ratio of 1.21 and a beta of 1.18. The business has a fifty day moving average price of $75.06 and a two-hundred day moving average price of $66.73.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly 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 return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.03%. Wells Fargo & Company's dividend payout ratio 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.