United Asset Strategies Inc. Cuts Stake in Wells Fargo & Company (NYSE:WFC)

United Asset Strategies Inc. lessened its position in Wells Fargo & Company (NYSE:WFC) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,172 shares of the financial services provider’s stock after selling 1,509 shares during the period. United Asset Strategies Inc.’s holdings in Wells Fargo & Company were worth $2,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the period. Studio Investment Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the first quarter valued at $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.6 %

Shares of NYSE:WFC traded down $0.94 during trading on Tuesday, reaching $56.03. The stock had a trading volume of 8,696,336 shares, compared to its average volume of 18,448,348. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market cap of $198.37 billion, a P/E ratio of 11.89, a PEG ratio of 1.18 and a beta of 1.19. The business has a fifty day moving average price of $55.08 and a 200-day moving average price of $48.44. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the firm posted $1.23 EPS. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 4.68 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.50%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Evercore ISI boosted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Compass Point reiterated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

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.