Tweedy Browne Co LLC Sells 176,912 Shares of Wells Fargo & Company (NYSE:WFC)

Tweedy Browne Co LLC reduced its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 20.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 677,364 shares of the financial services provider's stock after selling 176,912 shares during the quarter. Wells Fargo & Company accounts for approximately 3.2% of Tweedy Browne Co LLC's holdings, making the stock its 8th biggest holding. Tweedy Browne Co LLC's holdings in Wells Fargo & Company were worth $47,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Spinnaker Trust boosted its stake in Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after purchasing an additional 130 shares during the last quarter. MONECO Advisors LLC grew its position in Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after acquiring an additional 134 shares during the period. Crown Wealth Group LLC boosted its stake in Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after buying an additional 140 shares during the period. Jacobsen Capital Management boosted its position in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock worth $381,000 after buying an additional 148 shares during the period. Finally, New Republic Capital LLC boosted its holdings in Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock valued at $369,000 after purchasing an additional 149 shares during the period. 75.90% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Truist Financial raised 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, January 16th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.97.

Wells Fargo & Company Trading Down 0.7 %

Shares of NYSE WFC traded down $0.52 during midday trading on Tuesday, hitting $71.27. The stock had a trading volume of 10,659,106 shares, compared to its average volume of 17,129,811. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a fifty day moving average price of $75.60 and a 200 day moving average price of $70.42. The company has a market capitalization of $232.72 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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 for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company's revenue was down .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. Wells Fargo & Company's payout ratio is currently 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.